JPMorgan Said to Pay Most in $1.86 Billion CDS Settlement
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JPMorgan Chase & Co. headquarters in New York.
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Morgan Stanley, Barclays, Goldman paying next-largest amounts
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Deal would end years of litigation from group of investors
JPMorgan Chase & Co. is set to pay almost a third of a $1.86 billion settlement to resolve accusations that a dozen big banks conspired to limit competition in the credit-default swaps market, according to people briefed on terms of the deal.
JPMorgan is paying $595 million, with the lender’s portion of the accord largely based on the plaintiffs’ measure of market share, said the people, who asked not to be identified because the firms haven’t disclosed how they’re splitting costs. The settlement also enacts reforms making it easier for electronic-trading platforms to enter the CDS market, according to a statement Thursday from attorneys for the plaintiffs, which include the Los Angeles County Employees Retirement Association…
JPMorgan Said to Pay Most in $1.86 Billion CDS Settlement
