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The statement would confirm reports by Reuters and other media last week that the U.S. bank was set to pay nearly $1 billion to resolve the market manipulation investigations.
The lender will pay the biggest monetary penalty ever imposed by the Commodity Futures Trading Commission, including a $436.4 million fine, $311.7 million in restitution and more than $172 million in disgorgement, according to the Bloomberg report https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2020-09-29%2Fjpmorgan-pays-920-million-admits-misconduct-in-spoofing-probe%3Fsref%3DWJKVI5nK&data=02%7C01%7CAbhishek.Manikandan%40thomsonreuters.com%7C210b9424063143f3fe3608d86489ee33%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C637369890870939160&sdata=LXsVa5OBQnBFIbY1j3lJSHpUh2Si1tZ2Y2VtqlK29mM%3D&reserved=0.
Spoofing is a practice in which traders place orders they intend to cancel to move prices to benefit their market positions.
