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JPMorgan Chase Will Pay A Record Fine
US bank JPMorgan Chase will pay a record fine $ 920 million for manipulating precious metals and government bond markets.
Yazar: Tom Roberts
Yayınlanma: 30 Eylül 2020 02:30
Güncellenme: 4 Kasım 2024 04:54
JPMorgan Chase Will Pay A Record Fine
US bank JPMorgan Chase will pay a record fine $ 900 million for manipulating precious metals and government bond markets. This was stated by the American Commodity Trading Commission (CFTC). According to Dan Berkovitz of the CFTC, the bank agreed to pay a fine totaling $ 920 million (€ 786.19 million). Part of the funding will go to the CFTC and part to the US Securities and Exchange Commission (SEC). The record fine was talked about last week, when an amount of about a billion dollars was mentioned. Despite the reduction of this amount, it is a record fine for so-called spoofing. According to the regulators, traders from JPMorgan Chase implemented it for about eight years. Spoofing occurs when traders flood the market with false sell or buy orders in order to force the market to take action and thus to move prices. These practices were banned after the financial crisis in 2008, and regulators have made ending them one of their priorities.İLGİLİ HABERLER
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