JPMorgan pays $100M, admits fault in London trades


October 16, 2013 at 2:51p.m.

JPMorgan pays $100M, admits fault in London trades

WASHINGTON (AP) - JPMorgan Chase & Co. has agreed to pay a $100 million penalty and admitted that its traders acted “recklessly” during a series of London trades that ultimately cost the bank $6 billion. The settlement announced today by the Commodity Futures Trading Commission comes less than a month after JPMorgan, the nation’s largest bank, agreed to pay $920 million and admit fault in a deal with the Securities and Exchange Commission and other U.S. and British regulators.