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JPMorgan broker subsidiary admits to manipulative trading in US Treasuries, agrees to pay US$35 million in SEC order

JPMorgan broker subsidiary admits to manipulative trading in US Treasuries, agrees to pay US$35 million in SEC order

FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S., January 10, 2017. REUTERS/Stephanie Keith/File Photo

WASHINGTON: The U.S. Securities and Exchange Commission (SEC) on Tuesday said it has charged a broker-dealer subsidiary of JPMorgan Chase & Co. for fraudulently engaging in manipulative trading of Treasury securities.

J.P. Morgan Securities LLC admitted to the findings in the SEC's order, and agreed to pay disgorgement of US$10 million and a civil penalty of US$25 million to settle the action.

(Reporting by Katanga Johnson; Editing by Chizu Nomiyama)

Source: Reuters

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