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JPMorgan may face SEC civil charges

NEW YORK
Mon May 12, 2008 6:36pm EDT

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The JP Morgan and Chase headquarters is seen in New York January 30, 2008. REUTERS/Shannon Stapleton

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) said on Monday that it received a notice from federal regulators indicating that one of its units may face an enforcement action related to "the bidding of various financial instruments associated with municipal securities."

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Last month, Bear Stearns Cos BSC.N, which JPMorgan is buying, also got a notice from the U.S. Securities and Exchange Commission indicating possible civil charges, stemming from anti-competitive activity relating to bidding for municipal securities.

It was unclear whether there was any relationship between the two investigations.

(Reporting by Christian Plumb; editing by Carol Bishopric)
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