The SEC is investigating if First Republic Bank executives engaged in insider trading before the seizure of assets to JPMorgan. After continued deposit outflows, the San Francisco-based bank was seized by the California Department of Financial Protection and Innovation. JPMorgan bought a majority of its assets, including deposits, in a rushed bidding process. Over $176 million outflow in 2022 and over $100 million last March has led to more troubles for First Republic.
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