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Rating:JPMorgan Is Under the Microscope, Again Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, August 18, 2014

JPMorgan Is Under the Microscope, Again

News summary by MFWire's editors

JP Morgan is facing legal scrutiny again regarding how it sells its mutual funds.

Bloomberg reports that the SEC is reviewing whether there have been conflicts-of-interest when JP Morgan sold its proprietary funds to clients. The firm's private-banking arm is also under similar review according to the Wall Street Journal.

Meanwhile, Christ Church Cathedral in Indianapolis has filed suit against the bank on a similar issue, according to Bloomberg.

This is not the first time JP Morgan has faced scrutiny for the way it sells its own products to bank customers. At least one journalist has warned that such scrutiny could endanger the bank's fund arm. 

Edited by: Tommy Fernandez

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