No Joke: JPMorgan Chase's Market 'Spoofing' Leads To Nearly $1 Billion Fine

Video Credit: Wochit Business
Published on September 23, 2020 - Duration: 00:34s

No Joke: JPMorgan Chase's Market 'Spoofing' Leads To Nearly $1 Billion Fine

Spoofing is a form of market manipulation by which traders make a large sum of orders they have no intention of executing.

Such actions can mislead market participants to steer prices in a certain direction, and was outlawed in 2010 through the Dodd-Frank Act.

Now, Business Insider reports JPMorgan is set to pay almost $1 billion in settlement fines for spoofing in precious metals and Treasury markets.

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