CFTC Settles Charges Against JPMorgan Chase for “London Whale” Swaps

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On October 16, CFTC brought and settled charges of employing a manipulative device in connection with the JPMorgan Chase trading of certain credit default swaps (CDS), in violation of the new Dodd-Frank prohibition against manipulative conduct. JPMorgan admitted fault and will pay a $100 million civil penalty. Release. Order.


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