Daily Management Review

JPMorgan fined $850,000 because of stock reports


Due to the bank's failure to disclose certain currency swaps, the Commodity Futures Trading Commission (CFTC) said that JPMorgan Chase & Co. will be required to pay a $850,000 fine.

Image: Solvency Ii Wire
Image: Solvency Ii Wire
The commission discovered that between September 2015 and February 2020, JPMorgan neglected to inform almost 2.1 million short-term currency exchange transactions.

The bank maintains that it has already disclosed all previously unreported swap transactions that it was required to disclose.

Reuters’ inquiry for comment received no response from JPMorgan’s spokesman.

source: reuters.com