JPMorgan Chase (JPM)

JPMorgan Chase (JPM)

The company said on Wednesday it is among banks and securities dealers being investigated by the U.S. Securities and Exchange Commission for their handling of so-called "pre-released" American Depositary Receipts (ADR) between 2011 and 2015. The disclosure comes after the SEC said on July 20 that Deutsche Bank had agreed to pay nearly $75 million to settle its part of a continuing investigation into mishandling of the securities. In the case of Deutsche, the SEC said the bank had improperly provided thousands of pre-released ADRs and failed to prevent securities law violations when the instruments were borrowed or lent.

JP Morgan joins a growing list of firms that have asked their private banking group members to reconsider travel plans to China following detainment of a UBS banker by Chinese authorities.