JPMorgan Chase has agreed to pay about $100 million to resolve the Commodity Futures Trading Commission’s probe into the firm’s botched derivatives bets last year, according to people briefed on the matter.

The deal, which would bring the bank’s total settlements in the episode to more than $1 billion, may be announced as early as this week, the people said, asking not to be named because the talks were confidential. The accord would resolve a CFTC assertion that the trading amounted to a “manipulative device,” the people said. CFTC Chairman Gary Gensler and Joseph Evangelisti, a spokesman for the company, declined to comment.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access