JPMorgan said it faces further investigations into conflicts of interest in the way it sold and used its own investment products.
Bloomberg News reports that the firm is cooperating with “inquiries from other government authorities concerning disclosure of conflicts associated with the firm’s sale and use of proprietary products,” according to a regulatory filing issued Tuesday.
Indiana securities regulators are investigating the bank, according to two people familiar with the matter who asked not to be identified. They are looking into how JPMorgan handled investments inside trusts that benefited churches in the state, one of the people said. A spokeswoman for Indiana’s securities regulator didn’t immediately respond to a request for comment. Darin Oduyoye, a JPMorgan spokesman, declined to comment.
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