NEW YORK, May 22 (Reuters) – The U.S. Commodity Futures Trading Commission is expected as soon as Wednesday to announce a $100 million settlement with JPMorgan Chase & Co (JPM.N), opens new tab over trade reporting lapses, a source with direct knowledge of the matter told Reuters.
The same source said that the bank has also agreed to admit as part of that deal that it broke the agency’s rules. That admission, which has not previously been reported, would be a win for the CFTC which has been pushing for companies to assume more accountability for wrongdoing.
A spokesperson for the CFTC declined to comment. A JPMorgan spokesperson declined to comment, but referred to previous statements that the bank self-reported the violation and that it found neither misconduct nor any harm to customers.
JPMorgan previously agreed to pay $348.2 million to U.S. bank regulators over a related issue. The banking regulators said the misconduct occurred between 2014 and 2023 and that JPMorgan failed to properly monitor billions of trades across at least 30 global trading venues.
Source: REUTER
