JPMorgan set to pay nearly $1 billion in spoofing penalty - source

The large fine would lift a regulatory shadow that has hung over the bank for several years and mark a signature victory for the government’s efforts to clamp down on illegal trading techniques, such as spoofing, especially in the precious metals markets. JPMorgan has said in public filings that it was in discussions with authorities about resolving the investigations. The settlement with the Department of Justice, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) could come as soon as this week and is not expected to result in any restrictions on the …read more

Source:: Yahoo Finance