January 11, 2017 / 7:20 PM / in a year

JP Morgan Securities to pay $900,000 for supervision failures -CFTC

WASHINGTON, Jan 11 (Reuters) - The U.S. Commodity Futures Trading Commission said on Wednesday it ordered J.P. Morgan Securities LLC to pay $900,000 to settle charges it had failed to properly supervise employees over fees charged to customers trading on the Chicago Mercantile Exchange.

The CFTC said in a statement the company, a unit of JPMorgan Chase & Co, had failed to implement and maintain adequate systems for reconciling invoices from exchange clearinghouses with the amounts of fees actually charged to its customers from 2010 to 2014.

Reporting by Tim Ahmann; Writing by Eric Walsh; Editing by Tom Brown

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