JPMorgan Chase to Pay $100m for Failing to Disclose Conflicts of Interests to Investors
JPMorgan Chase Bank, N.A. agreed to pay $40 million civil monetary penalty and disgorgement in the amount of $60 million, and to cease and desist from further violations to settle under an Order charges brought by the U.S. Commodity Futures Trading Commission (CFTC). The Order finds that JPMCB failed to disclose certain conflicts of interest relating to its preference for investing its clients funds in thirid-party funds, hedge funds and mututal funds managed and operated by an affiliate or subsidiary of the bank. Click here to read more.