JP Morgan pays $ 920 million to settle charges of fraud...

JPMorgan Chase & Co. agreed to pay more than $ 920 million and pleaded guilty to wrongdoing in order to settle federal investigations into his transactions in metal futures contracts and Treasury notes.
According to “Reuters”, the bank will pay $ 436.4 million in fines and $ 311.7 million in compensation and will return more than $ 172 million, according to the Commodity Contracts Trading Committee yesterday, in the largest settlement ever with the regulator of derivatives trading markets.
According to the settlement, JPMorgan dealers placed orders that they had no intention of executing, in order to create a false impression on the movement of selling or buying in a way that pushes prices up or down.
“What these individuals have committed as described in the decisions is unacceptable, and they are no longer part of the company,” said Daniel Pinto, co-chairman of JPMorgan.
He added that the bank had invested “significant resources” to strengthen internal compliance policies, monitoring systems and training programs.

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