May 23 (Reuters) – JPMorgan Chase & Co (JPM.N), opens new tab will pay $100 million and admit it broke U.S. Commodity Futures Trading Commission rules in connection with trade reporting lapses, the regulator said on Thursday.
The bank discovered and reported to the agency finding significant gaps in its trading data and order surveillance in June 2021, in some cases dating back to 2013, regulators found. The gaps meant the bank violated rules for CFTC-registered entities on reporting of trade data, regulators said in their order.
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.
Reuters reported on Wednesday that the bank would be paying $100 million and admitting to wrongdoing. The admission is a win for the CFTC, which has increasingly been pushing for admissions of guilt when agreeing to settle with companies over misconduct.
Source: REUTER
