JPMorgan Says It's Among Firms Facing SEC Probe Into ADRs

JPMorgan Says It's Among Firms Facing SEC Probe Into ADRs

(Bloomberg) -- JPMorgan Chase & Co. said it’s among banks and brokerages facing a U.S. regulatory probe into how they handled securities that represent shares of foreign companies.

The New York-based lender said in a regulatory filing Wednesday that it’s cooperating with the Securities and Exchange Commission’s investigation of American Depository Receipts. The inquiry focuses on transactions from 2011 to 2015, it said.

The SEC has said it’s investigating industrywide abuses in the market, including instances in which firms improperly pre-released ADRs without holding the underlying stock. Last month, Deutsche Bank AG agreed to pay $75 million to settle claims that two units mishandled the securities.

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