Bank admits wrongdoing,an strange straggle in such cases, for charges of failing to disclose conflicts of interest when promoting investments to wealthy clientsJP Morgan Chase agreed to pay $307m on Friday to settle charges that two of its wealth management units failed to disclose conflicts of interest when promoting investments to its wealthy clients.
Regulators said that JP Morgan Securities and its nationally chartered bank, and JPMorgan Chase Bank,steered retail investors towards the firm’s own investment products without properly disclosing that preference.
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Source: theguardian.com