The international derivatives market The CME Group has published a notice of disciplinary action against JP Morgan Securities LLC.
According to a settlement offer in which JP Morgan Securities LLC (JPMS) neither admitted nor denied the rule violation or the factual findings on which the sanction is based, a Business Conduct Committee of Commodity Exchange Inc. (“COMEX”) found that on April 15, 2025, JPMS did not maintain the total deposit amount 3 required.
The deficiency was due to an incorrect transfer of funds from the bank account of 30.7 insured customers to a separate bank account of 1.20 customers. JPMS cured the deficiency by transferring stable funds to the 30.7 secure account on the morning of April 16, 2025.
The panel concluded that JPMS thus violated COMEX Rule 971.A.1.
Under the settlement offer, the commission ordered JPMS to pay a $50,000 fine.