11:20 AM EDT, 05/09/2024 (MT Newswires) -- JPMorgan Chase's ( JPM ) Australian unit has been fined A$775,000 ($511,887.50) for allegedly allowing suspicious client orders to be placed on a futures market, the Australian Securities and Investments Commission said Thursday.

An investigation found that J.P. Morgan Securities Australia should have suspected 36 orders placed by a client from Jan. 11, 2022, through March 3, 2022, were submitted with the intention of "creating a false or misleading appearance with respect to the market for, or the price of, the Eastern Australia Wheat futures January 2023 contracts," the corporate regulator said.

J.P. Morgan Securities Australia didn't contest the allegations against it and paid the fine, the ASIC said.

JPMorgan ( JPM ) didn't immediately respond to MT Newswires' request for comment.

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