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JPMorgan to settle SEC claims related to its handling of ADRs

Bank to pay penalty of $135m for conduct that occurred between 2011 and early 2015

JPMorgan to settle SEC claims related to its handling of ADRs

JPMorgan Chase agreed to pay $135m to settle claims that it improperly handled thousands of transactions involving foreign companies’ shares, the latest penalty in a wide-ranging probe of misconduct in the market.

JPMorgan improperly provided American depositary receipts for foreign shares that weren’t in the bank’s custody, which led the bank to inflate the number of a foreign company’s tradable shares, the Securities and Exchange Commission said Wednesday.

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