JP Morgan Chase admits to US market manipulation and agrees to pay $920m

  • ‘Spoofing’ practice illegally affected futures and metals market
  • Landmark settlement lifts regulatory shadow over bank

JP Morgan Chase has agreed to pay more than $920m and admitted to wrongdoing to settle federal US market manipulation investigations into its trading of metals futures and Treasury securities, the US authorities said on Tuesday.

Related: JP Morgan sets aside $8.3bn to cover Covid-19 losses

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