JPMorgan to pay $100 mln to settle CFTC charges on Whale trades

WASHINGTON Wed Oct 16, 2013 10:11am EDT

WASHINGTON Oct 16 (Reuters) - JPMorgan Chase & Co will pay $100 million to settle charges from a U.S. commodities regulator that it violated a prohibition on manipulative conduct in connection with its "London Whale" swaps trades, the Commodity Futures Trading Commission said on Wednesday.

JPMorgan will admit that its traders acted recklessly, the CFTC said.

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