JPMorgan pays record fine for 'spoofing'
By EsqSocial Corporation 16/12/20
CEP Magazine (December 2020) - The United States Department of Justice (DOJ) and the U.S. Securities and Exchanges Commission announced a deferred prosecution agreement with JPMorgan Chase & Co., including a fine of $920 million, for manipulating markets and defrauding consumers. JPMorgan traders engaged in “spoofing,” in which a financial firm will flood the market with trade it doesn’t intend to execute in order to affect the price of a particular commodity. In this case, traders focused on...
By: Society of Corporate Compliance and Ethics