WASHINGTON (Reuters) -The U.S. Commodity Futures Trading Commission on Friday ordered Goldman Sachs, Bank of America and JPMorgan to pay a total of over $50 million to settle charges of swap reporting failures and other violations, the agency said. JPMorgan, Bank of America, and Goldman Sachs will pay civil monetary penalties of $15 million, $8 million, and $30 million respectively, the CFTC said in a statement. Goldman Sachs was penalized for failing to diligently supervise a wide range of its swap dealer activities, and "for unprecedented failures regarding swap data reporting," the commission said.
The Senate Banking Committee announced the CEOs of the nation's largest banks will be testifying before the committee in December. The CEOs include JPMorgan's Jamie Dimon (JPM), Bank of America's Brian Moynihan (BAC), Citigroup's Jane Fraser (C), Goldman Sachs' David Solomon (GS), and Morgan Stanley's James Gorman (MS). Yahoo Finance Senior Reporter Jennifer Schonberger reports on the details of the hearing. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
(Bloomberg) -- The JPMorgan Asset Management money manager at the helm of the largest active exchange-traded fund in the $7.2 trillion industry is coming to market with another equity strategy geared toward investors bracing for a period of uncertainty.Most Read from BloombergEurope’s Richest Royal Family Builds $300 Billion Finance EmpirePakistan Rupee Set to Become Top Performing Currency Globally Murder Claim in Canada Is Only Helping India Leader Modi at HomeWeight-Loss Drugs Estimated to Sa