J.P. Morgan Chase & Co is set to pay close to $1.4 AUD billion to shut down regulatory and government agency probes into market manipulation allegations, on its precious metals and treasuries trading desk. This would be a record penalty for spoofing, an illegal form of market manipulation in which a trader places large orders to either buy or sell an asset, with no intention of executing the trade.
https://www.financialstandard.com.au/news/j-p-morgan-set-to-cough-up-us-1bn-173982332
