JPMorgan to pay separate $100M penalty from CFTC
WASHINGTON — 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 Wednesday by the Commodity Futures Trading Commission comes less than a month after JPMorgan, the nation’s largest bank, […]
Do you think a company's general counsel should also be its compliance officer?
Intrade boots U.S. customers after federal charges
WASHINGTON — Intrade, the online prediction market that gained popularity as an informal oddsmaker for the presidential election, shut itself to U.S. customers Monday after regulators charged it with illegally facilitating bets on future economic data, the price of gold and even acts of war. Hours after the Commodity Futures Trading Commission filed a complaint […]
Obama wants to target oil market manipulation
WASHINGTON — President Barack Obama pushed Congress Tuesday to give oil market regulators more muscle to deter price manipulation by speculators, the latest White House response to determined Republican attacks on administration energy policies amid high gas prices at the pump. Obama wants Congress to strengthen federal supervision of oil markets, increase penalties for market […]