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JPMorgan Says U.S. Probing Asset Unit in Sale of Own Funds

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JPMorgan Chase & Co. received subpoenas and inquiries from the U.S. Securities and Exchange Commission and other regulators about how it sells its own mutual funds and other proprietary products.

The SEC, other government authorities and a self-regulatory organization are seeking information about the bank’s use of proprietary products in its wealth-management business, the New York-based company disclosed Tuesday in a regulatory filing. The lender said it’s cooperating.