CFTC Fines JPMorgan $100 Million Over ‘London Whale’ Trades
October 16 | 2013
Washington (AFP) – U.S. regulators on Wednesday fined banking giant JPMorgan Chase $100 million for “reckless conduct” in the “London whale” trading debacle.
The U.S. Commodity Futures Trading Commission said that JPMorgan had admitted charges of manipulating trading of certain credit-default swaps in the case that caused the bank $6.2 billion in losses, and had agreed to pay the civil penalty.
AFP Photo/Emmanuel Dunand