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CFTC Joins Investigation Into JPMorgan “Client Steering”

Mega bank and serial regulatory cheat JPMorgan Chase & Co. (NYSE:JPM) has apparently been caught with its hand in the cookie jar again. The Commodity Futures Trading Commission has joined an ongoing investigation by other regulatory agencies regarding whether JPMorgan made sufficient disclosures when directing clients to high-risk hedge fund investments, according to sources with knowledge of the matter who spoke to the Wall Street Journal.

The CFTC inquiry into JPMorgan's Hedge Funds had not been publicly released until today as it is a part of a larger probe by federal and state regulators.

The sources also noted the investigation includes a closer look at new client activities at Highbridge Capital Management, a hedge fund firm owned by JPMorgan. The CFTC is investigating why such a high percentage of Highbridge’s AUM stems from JPMorgan’s private-bank assets, and...