JPMorgan Pays $307M To Settle SEC, CFTC Probes

By Carmen Germaine (December 18, 2015, 11:47 AM EST) -- JPMorgan Securities LLC and JPMorgan Chase Bank have agreed to pay $307 million to settle charges by the U.S. Securities and Exchange Commission and other regulators that the bank failed to tell clients it was steering them to its own products to obtain higher fees, the SEC said Friday.

On top of the $267 million in disgorgement and civil penalties JPMorgan Securities and JPMorgan Chase Bank will pay to the SEC, JP Morgan Chase will pay an additional $40 million in penalties to the CFTC. (Credit: AP) The investment advisory business and the nationally chartered bank will pay $267 million in...

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