AG POLICY NEWS
Wed Oct 16, 2013 10:39 AM CDT

WASHINGTON (Dow Jones) -- J.P. Morgan Chase & Co. agreed to pay $100 million to settle a Commodity Futures Trading Commission probe related to the bank's 2012 "London whale" trading debacle, the agency said Wednesday.

As part of the settlement, J.P. Morgan admitted to using recklessly aggressive trading strategies when it made large bets in thinly traded derivatives markets that ultimately cost the bank $6.5 billion.

It's the first time the CFTC is using new powers the agency gained in the 2010 Dodd-Frank financial law to go after traders for acting "recklessly." The new standard makes it easier for the ...

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