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Across 8 years, what was the profit on this illegal activity? In any other branch of law there is a concept of the sentence providing a deterrent, or at least r
by ohthehugemanate 5y ago
Across 8 years, what was the profit on this illegal activity? In any other branch of law there is a concept of the sentence providing a deterrent, or at least removing from the actor from the opportunity to repeat offend.
Can someone knowledgeable help me understand why these concepts seem missing from financial market penalties like this? The same people still have their license, and probably didn't even suffer a loss on the activity.
- gameshot911 5y ago> JPM is required to pay a total of $920.2 million—the largest amount of monetary relief ever imposed by the CFTC—including the highest restitution ($311,737,008), disgorgement ($172,034,790), and civil monetary penalty ($436,431,811) amounts in any spoofing case. Disgorgement is the illegally gained profits they have to give up. The monetary penalty is the additional deterrent on top.