JPMorgan Chase faces a fine of $920m for market manipulation
Traders are alleged to have used “spoofing” to rig markets
MANY OF THE big market-manipulation scandals over the past decade have much in common: huge fines for the investment banks, criminal charges for the traders and an embarrassing paper trail revealing precisely what bank employees got up to. Interest-rate traders who manipulated the London Interbank Offered Rate (LIBOR) messaged each other with pleas to put their fixes in low. Foreign-exchange traders infamously called a chat room in which they discussed rigging exchange rates “the cartel”.
This article appeared in the Finance & economics section of the print edition under the headline “Spoof proof”
Finance & economics October 3rd 2020
- Why, despite the coronavirus pandemic, house prices continue to rise
- Is China’s biggest property developer truly too big to fail?
- Mastercard and Visa seek to get the most out of the digital-payments boom
- JPMorgan Chase faces a fine of $920m for market manipulation
- Why east and west German women still work vastly different hours
- Foreign capital helps ease India’s credit drought
- Lessons from the endowment model
- Outright bans can sometimes be a good way to fight climate change
From the October 3rd 2020 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance & economics
China meets its official growth target. Not everyone is convinced
For one thing, 2024 saw the second-weakest rise in nominal GDP since the 1970s
Ethiopia gets a stockmarket. Now it just needs some firms to list
The country is no longer the most populous without a bourse
Are big cities overrated?
New economic research suggests so
Why catastrophe bonds are failing to cover disaster damage
The innovative form of insurance is reaching its limits
“The Traitors”, a reality TV show, offers a useful economics lesson
It is a finite, sequential, incomplete information game
Will Donald Trump unleash Wall Street?
Bankers have plenty of reason to be hopeful