pucker up
Created on: October 30th, 2006
YTMND, goes on smooth and lasts forever
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JPMorgan Chase & Co. said on Friday one of its mutual funds units had received a letter from
the U.S. Securities and Exchange Commission as part of its probe into whether kickbacks were
paid to some fund administrators. The No. 3 U.S. bank is the largest yet to be contacted by
the SEC as part of a probe into whether mutual fund management groups, many of them owned by
banks, took improper payments from outside contractors hired to handle fund marketing
and other administrative details for them.
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