The plan won't affect the bank's retail customers but will affect some corporate clients and financial firms, including hedge funds, private-equity firms and foreign banks, the Journal said, citing a memo. (http://on.wsj.com/1LxspCA)

Specifics of the plan are likely to be unveiled on Tuesday at the bank's annual strategy outlook with investors, the newspaper said.

Representatives at JPMorgan were not immediately available for comment outside regular U.S. business hours.

(Reporting by Supriya Kurane in Bengaluru; Editing by Anupama Dwivedi)