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JPMorgan Is Set to Pay $1 Billion in Record Spoofing Penalty

  • Settlement would end Justice Department and regulators’ probes
  • Investigations focused on precious metals, Treasury securities
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JPMorgan Poised to Pay Record $1B in U.S. Spoofing Case

JPMorgan Chase & Co. is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter.

The potential record for a settlement involving alleged spoofing could be announced as soon as this week, said the people who asked not to be named because the details haven’t yet been finalized. The accord would end probes by the Justice Department, the Commodity Futures Trading Commission and the Securities and Exchange Commission into whether traders on JPMorgan’s precious metals and treasuries desks rigged markets, two of the people said.