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JPMorgan Set To Pay $1 Bln Penalty To Settle Investigation Into Trading Practices: Reports

JPMorgan Chase & Co (JPM) could reportedly pay $1 billion in penalty to settle government investigations into the alleged manipulation of metal and treasuries markets.

According to Bloomberg, a settlement between JPMorgan and several U.S. agencies could reach as soon as this week. The deal will resolve investigations from the Justice Department, the Commodity Futures Trading Commission and the Securities and Exchange Commission.

U.S. regulatory authorities are probing firms who unfairly manipulate or "spoof" the precious metals market.

Last year the Commodity Futures and Trading Commission fined Merrill Lynch Commodities, Inc. $25 million.

JPMorgan may be forced to admit wrongdoing, however, no restrictions on its business would be imposed, according to the report.

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