JPMorgan, SEC In 'Advanced' Talks Over CDO Settlement

Law360, New York (May 6, 2011, 12:07 PM EDT) -- JPMorgan Chase & Co. said Friday that it's in "advanced discussions" with the U.S. Securities and Exchange Commission to settle the agency's probe of the bank's collateralized debt obligations.

The bank didn't specify which CDOs were under investigation, and stressed that a resolution wasn't guaranteed, according to a quarterly report filed with the SEC.

Reports surfaced in November that the SEC was looking into CDOs sponsored by JPMorgan, although a suit has yet to be filed. The agency is reportedly probing whether the bank allowed Illinois-based...
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