Reported 5 months ago
JPMorgan Chase & Co has agreed to pay $100 million and admit to violating U.S. Commodity Futures Trading Commission rules due to trade reporting deficiencies, as disclosed by the regulator. The bank self-reported significant gaps in its trading data and order surveillance, dating back to 2013, leading to violations of reporting rules for CFTC-registered entities. The settlement marks a victory for the CFTC's push for admissions of guilt in enforcement actions, despite financial firms typically resisting such admissions due to potential additional costs from private litigation.
Source: YAHOO