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JPMorgan fined $850,000 for alleged swap reporting failures

Stock Markets Jul 05, 2022 04:52PM ET
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© Reuters. FILE PHOTO: A person enters the JPMorgan Chase & Co. New York Head Quarters in Manhattan, New York City, U.S., June 30, 2022. REUTERS/Andrew Kelly

(Reuters) - JPMorgan Chase & Co (NYSE:JPM) will have to pay an $850,000 penalty to the U.S. Commodity Futures Trading Commission (CFTC) for allegedly failing to report certain foreign currency swaps, the regulator said on Tuesday.

The commission found that the bank failed to report nearly 2.1 million short-dated foreign exchange swap transactions from September 2015 to February 2020.

The bank has said it disclosed all the previously unreported swap transactions that it was obligated to, according to the CFTC.

A spokesperson for JPMorgan did not immediately respond to a Reuters request for comment.

JPMorgan fined $850,000 for alleged swap reporting failures
 

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Comments (2)
Notvery Goodathis
Peteymcletey Jul 05, 2022 10:55PM ET
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that's it?
Robert Copeland
Robert Copeland Jul 05, 2022 10:27PM ET
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Wow I know I'm sure upset about the little fine.
 
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