CFTC Fines J.P. Morgan $900,000 for Overcharging CME Traders

[kreslik.news]

J.P. Morgan Securities LLC (JPMS) has agreed to pay a fine of US $900,000 to the Commodity Futures Trading Commission to resolve charges that it failed to supervise its staff’s handling of exchange fees charged to customers from 2010 through 2014.

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According to the CFTC, while J.P. Morgan was trying to enhance its exchange fee reconciliation process in 2014, the registered futures commission merchant identified that it had failed to properly supervise the processing of exchange and clearing fees it charged customers for trading ... (read more)