Gideon Benari
"JP Morgan Chase & Co. is preparing to pay almost $ 1 billion in connection with the investigation by the US authorities of market manipulation related to its trading in metals futures and Treasury securities," - three sources told the agency.
It is noted that the bank was suspected of spoofing (substitution of addresses on the Internet) and manipulation of market prices through orders that are placed and then canceled by traders to change prices in a certain direction.
According to two sources, such an agreement could end investigations by the Department of Justice, the US Commodity Futures Trading Commission (CFTC) and the Securities Commission (SEC). The possible fine could become a record of its kind, while the agreement could be announced the other day, sources said.
JP Morgan Chase Investment Bank was founded in 1799 and is one of the world leaders in the provision of investment banking services and trust management. The bank currently operates in more than 60 countries.
source: bloomberg.com
It is noted that the bank was suspected of spoofing (substitution of addresses on the Internet) and manipulation of market prices through orders that are placed and then canceled by traders to change prices in a certain direction.
According to two sources, such an agreement could end investigations by the Department of Justice, the US Commodity Futures Trading Commission (CFTC) and the Securities Commission (SEC). The possible fine could become a record of its kind, while the agreement could be announced the other day, sources said.
JP Morgan Chase Investment Bank was founded in 1799 and is one of the world leaders in the provision of investment banking services and trust management. The bank currently operates in more than 60 countries.
source: bloomberg.com
