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.

Primary Sources

  1. CFTC Order: JPMorgan Chase & Co., JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC
  2. SEC Order: JP Morgan Securities LLC
  3. CFTC Press Release; CFTC Orders JPMorgan to Pay Record $920 Million for Spoofing and Manipulation
  4. DOJ Press Release: JPMorgan Chase & Co. Agrees to Pay $920 Million in Connection with Schemes to Defraud Precious Metals and U.S. Treasuries Markets
  5. DOJ Deferred Prosecution Agreement: JPMorgan Chase & Co.
  6. DOJ Deferred Prosecution Agreement - Information: JPMorgan Chase & Co.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mr Cadwalader, Wickersham & Taft LLP
Cadwalader, Wickersham & Taft LLP
200 Liberty Street
New York
NY 10281
UNITED STATES
Tel: 2125046000
Fax: 2125046666
E-mail: cwtinfo@cwt.com
URL: www.cadwalader.com

© Mondaq Ltd, 2020 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing