JPMorgan Chase has agreed to pay $100m to settle charges from the Securities and Exchange Commission (SEC) regarding misleading disclosures related to “conduit” products. These products pooled customer funds for investment in private equity and hedge funds. The SEC’s announcement on Thursday detailed that the settlement includes a $10m civil fine, with the remaining $90m earmarked for distribution to affected conduit investors. As part of the agreement, JPMorgan accepted a censure but did not admit or deny any wrongdoing.