WASHINGTON: The London Whale is the gift that keeps giving for regulators.
JPMorgan Chase & Co has agreed to pay the latest in a string of fines for the disastrous trades and admit wrongdoing, this time in a settlement with the US Commodity Futures Trading Commission.
The bank agreed to pay $100 million and admit its traders acted recklessly, the CFTC said on Wednesday. The bank was instructed to send the funds to accounts receivable at the CFTC’s division of enforcement.
