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The Boston Globe

Business

JPMorgan to admit wrongdoing, pay $100m

NEW YORK — JPMorgan Chase has agreed to pay $100 million and make a groundbreaking admission of wrongdoing to settle an investigation into market manipulation involving the bank’s multibillion-dollar trading loss in London, a federal regulator said Wednesday, underscoring how far the bank was willing to go to put the blunder behind it.

The regulator, the Commodity Futures Trading Commission, took aim at JPMorgan for trading activity that was so large and voluminous that it violated new rules under the Dodd-Frank Act, the financial regulatory overhaul passed in response to the financial crisis.

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