JPMorgan pays $100M, admits fault in London trades
Published: October 16, 2013 04:29PM
Updated: October 16, 2013 09:04AM

Washington • JPMorgan Chase & Co. has agreed to pay a $100 million penalty and admitted that it distorted prices during a series of London trades that ultimately cost the bank $6 billion in losses.

The settlement announced Wednesday by the Commodity Futures Trading Commission comes less than a month after JPMorgan agreed to pay $920 million and admit fault in a deal with the Securities and Exchange Commission and other U.S. and British regulators.

The CFTC said JPMorgan traders in London sold off a massive volume of derivatives at once, distorting market prices.