JPM - JPMorgan's $100M Penalty: CFTC Reportedly Crackdown On Trade Reporting Flaws | Benzinga
JP Morgan Chase & Co. (NYSE:JPM) shares are trading mildly lower on Thursday in the premarket session.
The U.S. Commodity Futures Trading Commission is reportedly poised to unveil a $100 million settlement with the banking giant for trade reporting failures, Reuters reported, citing a source familiar with the matter.
Citing the same source, the report noted the bank has agreed to acknowledge, as part of the deal, that it violated the agency’s regulations.
This admission, previously undisclosed, represents a victory for the CFTC, advocating for greater corporate responsibility in addressing misconduct, the report added.
A JPMorgan spokesperson declined to comment to Reuters ...