JPMorgan Agrees To Pay $100M, Admit Wrongdoing To CFTC

Law360, Los Angeles (October 15, 2013, 8:39 PM EDT) -- JPMorgan Chase & Co. has agreed to pay approximately $100 million to resolve an investigation by the Commodity Futures Trading Commission into a $6 billion trading loss in London last year, the New York Times reported Tuesday.

As part of the settlement, JPMorgan would admit some wrongdoing and pay about $100 million to resolve the case, which stems from the so-called “London Whale” trading loss incident the bank revealed last year. The New York Times cites people briefed on the negotiations as saying the settlement with...
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