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JPMorgan agrees to pay $15.7 million to settle spoofing lawsuit

Section: Daily Dispatches

By Chris Prentice and Jonathan Stempel
Reuters
Thursday, September 23, 2021

WASHINGTON -- JPMorgan Chase & Co. agreed to pay $15.7 million in cash to settle a class-action lawsuit by investors who accused the largest U.S. bank of intentionally manipulating prices of U.S. Treasury futures and options.

The settlement disclosed late Wednesday night stemmed from sprawling U.S. government investigations into illegal trading in futures and precious metals markets, known as spoofing.

... Dispatch continues below ...


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JPMorgan did not admit wrongdoing in agreeing to the settlement, which covers traders in Treasury futures and options from April 2008 to January 2016 and requires approval by a federal judge in Manhattan.

Last September JPMorgan entered a deferred prosecution agreement and agreed to pay $920 million, including a $436 million criminal fine, to settle U.S. government probes into spoofing in Treasuries and precious metals. The bank also agreed to self-report future violations. ...

... For the remainder of the report:

https://www.reuters.com/business/finance/jpmorgan-agrees-pay-157-mln-settle-spoofing-lawsuit-2021-09-23/

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