Violation Tracker Individual Record

Company: 
JPMorgan Chase & Co.
Current Parent Company: 
JPMorgan Chase
Penalty: 
$920,000,000
Year: 
2020
Date: 
September 29, 2020
Offense Group: 
competition-related offenses
Primary Offense: 
fraud
Secondary Offense: 
investor protection violation
Violation Description: 

JPMorgan Chase & Co. entered into an agreement with the Department of Justice to resolve criminal charges related to two distinct schemes to defraud: the first involving tens of thousands of episodes of unlawful trading in the markets for precious metals futures contracts, and the second involving thousands of episodes of unlawful trading in the markets for U.S. Treasury futures contracts and in the secondary (cash) market for U.S. Treasury notes and bonds. Under the terms of a deferred prosecution agreement, the bank agreed to pay $920 million in a criminal and civil penalties, criminal disgorgement and victim compensation. The case overlaps with an action brought by the Commodity Futures Trading Commission (see separate entry).

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Criminal Division
Civil or Criminal Case: 
criminal
Prosecution Agreement: 
deferred prosecution agreement
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.