This week, the Commodity Futures Trading Commission (CFTC) issued three orders imposing civil monetary penalties of over $50 million combined in actions involving several of the largest financial institutions in our nation and several of the most significant institutions in global swaps markets—JP Morgan Chase Bank, N.A. and affiliated entities (JP Morgan); Bank of America, N.A. and Merrill Lynch International (BAML); and Goldman Sachs & Co. LLC (Goldman) (collectively, Respondents). JP Morgan, BAML, and Goldman will pay civil monetary penalties of $15 million, $8 million, and $30 million[1] respectively.