- JPMorgan will pay the largest CFTC monetary penalty ever and admitted wrongdoing in order to resolve a case surrounding claims of market manipulation in the trading of precious metals and Treasury securities, Bloomberg first reported.
- The case covers an eight-year period and relates to the practice of “spoofing,” where traders put in large orders to buy or sell a security with no intention of executing the order, creating the appearance of demand or supply for a particular asset.
- JPMorgan will pay $920 million, which includes a $436.4 million fine, $311.7 million in restitution, and $172 million in disgorgement.
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JPMorgan will pay $920 million and admit wrongdoing in order to resolve a case surrounding claims of market manipulation, Bloomberg first reported on Tuesday.
The $920 million payment represents the largest-ever monetary penalty imposed by the Commodity Futures Trading Commission, and consists