JPMorgan poised to pay $100 million over CFTC trade reporting violations, source says

By Chris Prentice and Nupur Anand

NEW YORK (Reuters) – The U.S. Commodity Futures Trading Commission is expected as soon as Wednesday to announce a $100 million settlement with JPMorgan Chase & Co over trade reporting lapses, a source with direct knowledge of the matter told Reuters.

The bank is expected to admit that it broke the agency’s rules as part of that deal, the person said.

A spokesperson for the CFTC declined to comment. A JPMorgan spokesperson declined to comment, but referred to previous statements that the bank self-reported the violation and that it found neither misconduct nor any harm to customers.

(Reporting by Chris Prentice and Nupur Anand in New York; editing by Lananh Nguyen and Michelle Price)