U.S. CFTC penalizes JPMorgan unit over inaccurate trader reports

WASHINGTON, July 29 Tue Jul 29, 2014 10:10am EDT

WASHINGTON, July 29 (Reuters) - A JPMorgan Chase & Co unit will pay $650,000 to resolve charges that it submitted inaccurate reports about the positions held by some of its large trader clients, the U.S. commodities regulator said on Tuesday.

J.P. Morgan Securities, the bank's futures commission merchant, was repeatedly warned of errors in its reports, the Commodity Futures Trading Commission said. (Reporting by Aruna Viswanatha; Editing by Bill Trott)

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