JP Morgan was found to be guilty of manipulating commodities markets using a tactic known as “spoofing”.
The U.S. bank is fined $920M for the infraction.
The infraction involved fifteen traders over a span of eight years of manipulating treasury contracts.
By manipulating the price of gold and silver futures, they caused an overall loss of over $300M to participants in the market.
The quickest way to level up, become smarter & add value to your career in finance.
Signup for the FREE weekly newsletter: The Finance & Money Edge.
Get smarter about:
A weekly non-stuffy 2-minute read.
We value your privacy. We will never rent, sell or exchange your details. Our privacy policy.