(Bloomberg) -- JPMorgan Chase executives have been deposed and thousands of pages of internal documents subpoenaed as part of an SEC investigation into whether senior asset-management executives at the bank developed a policy of improperly steering clients into investments for JPMorgan's own financial gain, according to people familiar with the investigation.

The SEC is scrutinizing, among other issues, how the largest U.S. bank by assets managed pensions and other accounts that hold it to a so-called fiduciary standard, which obligates it to put clients' financial interests ahead of its own.

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