SEC Investigation JPMorgan Over Sub Prime Deal (JPM)

Shares of JPMorgan Chase (NYSE: JPM) are trading sharply lower following a wire by ProPublica stating the Securities and Exchange Commission is investigating whether JPMorgan Chase turned a blind eye to hedge fund who improperly selected assets in a 1.1bil$ deal backstopped with Subprime mortgages.

JPM (NYSE: JPM) shares are down .80% to the 37.33 level down 30c on the day.

More coming as the story develops.