JPMorgan Shops Commodity Business Amid Bid To Shed Non-Core Assets

JPMorgan Chase & Co (NYSE:JPM) has initiated a process to sell its physical commodity business for $3.3 billion by circulating offering documents, according to several media reports. Last month, ValueWalk reported that JPMorgan Chase & Co (NYSE:JPM) had launched a firm-wide effort to sell off ‘non-core’ assets. Increasing regulatory scrutiny In July, the Federal Reserve indicated that it is reviewing its landmark 2003 ruling that allowed regulated banks to trade in physical commodity markets. This move would affect the top global investment banks including JPMorgan Chase & Co (NYSE:JPM), Goldman Sachs Group Inc (NYSE:GS), and Morgan Stanley (NYSE:MS) as they derive substantial revenue…