The Securities and Exchange Commission is investigating the conduct of First Republic Bank executives before the government seizure and sale of the lender to JPMorgan Chase & Co., according to two people familiar with the matter.
The SEC is looking into whether any members of the then-executive team of First Republic improperly traded on inside information, said one of the people, who asked not to be identified because the probe hasn’t been publicly disclosed.
Source: First Republic Bank Executive Trading Investigated by SEC – Bloomberg
