Please disable Ad Blocker before you can visit the website !!!

JPMorgan Short

by SignalFactory   ·  September 24, 2020 | 10:45:50 UTC  

JPMorgan Short

by SignalFactory   ·  September 24, 2020 | 10:45:50 UTC  

JPMorgan is set to pay nearly $1 billion to settle with US authorities investigating whether the bank manipulated the metals and Treasury markets, Bloomberg reported on Wednesday.

The sum would set a record for spoofing-related settlements and could be announced as soon as this week, sources familiar with the matter told Bloomberg. The payment would be in line with other market-manipulation sanctions but surpass previous spoofing fines.

The payment would resolve investigations by the Justice Department, the Commodity Futures Trading Commission, and the Securities and Exchange Commission, according to the report. The agencies have been looking into whether traders on JPMorgan’s metals-futures and Treasury desks interfered with the respective markets.

Spoofing is a form of market manipulation that typically involves traders making many orders they have no intention of executing; that can mislead market participants to steer prices in a certain direction. Though the underlying act of making several trades isn’t illegal, regulators outlawed the strategic use of such trades in 2010 through the Dodd-Frank Act.

One source told Bloomberg that the settlement wasn’t likely to restrict JPMorgan’s business practices and that the bank would admit wrongdoing.

In criminal charges against JPMorgan filed last year, the Justice Department alleged that employees on the bank’s precious-metals desk turned the venture into an enterprise that frequently conducted illegal market activity.

A penalty of that size would be a record for spoofing, which is when sophisticated traders flood markets with orders that they have no intention of actually executing. The practice was banned after the 2008 financial crisis and regulators have made it a priority to stamp out.

The case was revealed in September 2019 when a 14-count criminal indictment against three current or former JPMorgan employees, including the global head of base and precious metals trading, was unsealed.

The indictment alleges the traders, along with eight unnamed co-conspirators who worked at JPMorgan offices in New York, London and Singapore, participated in a racketeering conspiracy in connection with a multiyear scheme to manipulate the precious metals markets and defraud customers.

Named in the indictment were Michael Nowak, a  former managing director who also headed the firm’s global precious metals desk, along with Gregg Smith and Christopher Jordan, who both held the title of executive director and were traders on the firm’s precious metals desk.

They each were charged with one count of conspiracy under the Racketeer Influenced and Corrupt Organizations Act, or RICO, which historically has been used in mafia prosecutions, as well as other federal crimes in connection with manipulating precious metals futures markets.

The signal is based on information from the following link:

JPMorgan Short (Sell)

ENTER AT: 90.64

T.P_1: 81.95

T.P_2: 76.90

T.P_3: 70.89

T.P_4: 64.00

S.L: 97.63

All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user. This website and all information is intended for educational purposes only and does not give financial advice. Signal Factory is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities. Signal Factory does not offer, operate or provide financial, brokerage, commercial or investment services and is not a financial advisor. Rather, Signal Factory is an educational site and a platform for exchanging Forex information. Whenever information is disclosed, whether express or implied, about profit or revenue, it is not a guarantee. No method or trading system ensures that it will generate a profit, so always remember that trade can lead to a loss. Trading responsibility, whether resulting in profits or losses, is yours and you must agree not to hold Signal Factory or other information providers that are responsible in any way whatsoever. The use of the system means that the user accepts Disclaimer and Terms of Use. Signal Factory is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered. While Signal Factory believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Factory does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Factory to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all. All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Factory assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Factory are not responsible for your trading in any way. The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Factory assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a merchant account or use the services, free of charge or paid, to any of the Forex companies mentioned on this website, bears full responsibility for their actions. Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company. Forex trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against merchants. Before each Forex investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results. Neither Signal Factory nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.

Signal Factory is now on Telegram

make sure to join our Telegram channel now and you will not miss any update