ToplineJPMorgan Chase will pay a record $920 million to resolve a criminal investigation by three federal agencies over its role in the alleged manipulation of precious metal and Treasury markets, federal regulators said on Tuesday. The bank settled probes of market manipulation in precious-metal and Treasury markets over an ... [+] eight-year period. As part of the deal, the bank will admit to wrongdoing and pay a record fine of $920 million, according to a statement from the CFTC on Tuesday. The practice was banned in 2008 after the financial crisis, and in recent years federal regulators have ramped up efforts to crack down on market manipulation. TangentJPMorgan has also settled a long-running lawsuit accusing the bank of manipulating precious metals markets, according to CNBC.

Source: Forbes September 29, 2020 16:41 UTC