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JPMorgan expected to pay $1B spoofing fine

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JPMorgan Chase & Co. is close to reaching an agreement to settle civil and criminal charges that its traders rigged futures and securities markets.

People familiar with the matter told Dow Jones Newswires the company is expected to pay roughly $1 billion in the settlement.

The Justice Department and Commodity Futures Trading Commission have cracked down on so-called spoofing, a practice that misleads investors into trading at higher prices.

Read more from Dow Jones Newswires.

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