CFTC Orders JPMorgan Chase & Co. To Pay $20 Million In Lehman Case-Reuters

Reuters reported that according to the Commodity Futures Trading Commission (CFTC) JPMorgan Chase & Co will pay $20 million to settle charges that it unlawfully handled customer segregated funds at Lehman Brothers Holdings Inc. The CFTC said that for about 22 months, ending with Lehman's bankruptcy in September 2008, JPMorgan had improperly extended intra day credit to Lehman Brothers based in part on customers' segregated funds Lehman had deposited at the bank. JPMorgan also violated rules by refusing to release customers' segregated funds for nearly two weeks after the bankruptcy, the CFTC said.