WASHINGTON – Invoking a powerful new provision of the Dodd-Frank Act that bars reckless manipulative conduct, the U.S. Commodity Futures Trading Commission announced Wednesday it had reached a $100 million settlement with JPMorgan Chase & Co. over massive trading losses by the so-called London Whale.
The settlement, includes a narrowly tailored admission of wrongdoing from the bank, which last week revealed it has set aside $23 billion to cover ongoing legal costs.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
