(NEW YORK) — JPMorgan Chase has agreed to pay a $100 million penalty to settle claims of reckless conduct brought by the Commodity Futures Trading Commission.
The bank has also agreed to admit it did something wrong before it suffered a $6 billion trading loss that originated in its London office. The bank admits now that traders there “acted recklessly.”
Prior settlements focused on oversight and controls. Two former London-based employees are facing criminal charges.
Copyright 2013 ABC News Radio
Nate Eaton, EastIdahoNews.com