UPDATE: JPMorgan Chase Reaches Settlement with CFTC Regarding Extension of Credit to Lehman's Broker-Dealer
JPMorgan Chase & Co. (NYSE: JPM) announced today that it reached a settlement with the U.S. Commodity Futures Trading Commission to resolve the CFTC's investigation into JPMorgan Chase's extension of credit to Lehman Brothers Inc. based in part on the misclassification of a customer-segregated account from November 2006 to September 2008, as well as the firm's delayed release of customer assets when requested by the court-appointed trustee during a 10-day period following the initiation of LBI's liquidation proceedings in September 2008.
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