CFTC: JPMorgan unit to pay $650,000 settlement

People stand inside the lobby of the JPMorgan Chase & Co. headquarters building in New York.
Ron Antonelli | Bloomberg | Getty Images

A JPMorgan Chase unit will pay $650,000 to resolve charges that it submitted inaccurate reports about the positions held by some of its large trader clients, the U.S. commodities regulator said on Tuesday.

JPMorgan Securities, the bank's futures commission merchant, was repeatedly warned of errors in its reports, the Commodity Futures Trading Commission said.

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—By Reuters