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JPMorgan Said to Settle CFTC London Whale Trading Probe

JPMorgan Chase & Co. has agreed to pay about $100 million to resolve the Commodity Futures Trading Commission’s probe into the firm’s botched derivatives bets last year, according to people briefed on the matter.

The deal, which would bring the bank’s total settlements in the episode to more than $1 billion, may be announced as early as this week, the people said, asking not to be named because the talks were confidential. The accord would resolve a CFTC assertion that the trading amounted to a “manipulative device,” the people said. CFTC Chairman Gary Gensler and Joseph Evangelisti, a spokesman for the company, declined to comment.