Investment Banking

JPMorgan in talks to pay $1bn to settle spoofing probe

JPMorgan is nearing an agreement with federal prosecutors and regulators to pay a fine to settle civil and criminal charges that its traders rigged futures and securities markets, people familiar with the matter said.

The bank would pay about $1bn to wrap up several investigations into whether its trading desks manipulated prices for metals and Treasury securities, one of the people said.

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