JPMorgan paying $307M to settle US charges on conflicts
WASHINGTON - JPMorgan Chase is paying $307 million to settle federal charges of failing to reveal conflicts of interest from steering clients into certain investments tied to its businesses.
The civil settlements were announced Friday by the Securities and Exchange Commission and the Commodity Futures Trading Commission. JPMorgan, the largest U.S. bank by assets, admitted wrongdoing in the settlements.
New York-based JPMorgan is paying a $127.5 million penalty in the settlement with the SEC and another $127.5 million in restitution plus $11.8 million in interest. Under the CFTC agreement, the bank is paying a $40 million penalty.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Suspect had child in car during high-speed chase down I-10, caught at...
New mixed development on Highland Road in the works
NOLA mayor claims Baton Rouge helping to staff Mardi Gras patrols
Final phase of Pecue Lane Expansion Project kicks off Tuesday; expected to...
Family attorney for Madi Brooks speaks out - 'Brooks was unable to...