The accord would end probes by the Justice Department, the Commodity Futures Trading Commission and the Securities and Exchange Commission into whether traders on JP Morgan’s precious metals and treasuries desks rigged markets, two of the people said.
NEW YORK: JP Morgan Chase & Co is poised to pay close to US$1bil to resolve market manipulation investigations by US 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 finalised.
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