Investment Bank Settles SEC and CFTC Charges for Spoofing
Investment bank J.P. Morgan agreed to settle SEC and CFTC charges that the firm engaged in spoofing in the market for U.S. government securities (see here for the SEC Order and here for the CFTC Order).
The investment bank agreed to pay a combined total of $955 million ($35 million to the SEC and $920 million to the CFTC) to settle the charges. In a parallel action, J.P. Morgan entered into a Deferred Prosecution Agreement with the DOJ's Fraud Division and the U.S. Attorney's Office for the District of Connecticut.
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