Reports suggest JP Morgan is in advanced talks with the US SEC over a $150m settlement to resolve claims from the regulator that the bank steered private banking clients to its own investment products where it could make the most money, thereby abusing its fiduciary duty to them. The deal would be subject to approval by the New York state attorney general, who has been investigating whether JPMorgan, which was fined $290bn (£180bn) for rigging interest rates, misled investors about
Reports suggest JP Morgan is in advanced talks with the US SEC over a $150m settlement to resolve claims from the regulator that the bank steered private banking clients to its own investment products where it could make the most money, thereby abusing its fiduciary duty to them. Regulators in the state of Indiana are also investigating JP Morgan over the same issue.