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JPMorgan Is in ‘Advanced’ Negotiations to Resolve CDO Probe

JPMorgan Chase & Co., the only Wall Street bank to remain profitable throughout the financial crisis, is in “advanced” negotiations to resolve its piece of a broader U.S. Securities and Exchange Commission investigation into how mortgage-linked securities were packaged and sold as the housing market unraveled.

JPMorgan’s securities unit has been cooperating with agency officials and “is currently in advanced discussions with the staff concerning a potential resolution of that investigation,” the New York-based bank said in a quarterly financial report filed with the SEC today.