JPMorgan to pay record $920m fine to resolve market manipulation cases
The settlement resolves investigations by the US justice department and Commodity Futures Trading Commission into trading in precious-metals and Treasury markets
29 September 2020 - 19:46
New York — JPMorgan Chase admitted wrongdoing and agreed to pay more than $920m to resolve US authorities’ claims of market manipulation involving two of the bank’s trading desks, the largest sanction ever tied to the illegal practice known as spoofing.
Over eight years, 15 traders at the biggest US bank caused losses of more than $300m to other participants in precious metals and Treasury markets, according to court filings on Tuesday...
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