JPMorgan Chase & Co's (JPM) securities business has been ordered to pay a $900,000 civil monetary penalty for failing to diligently supervise the processing of exchange and clearing fees that it charged customers for trading and clearing Chicago Mercantile Exchange (CME) products and products from certain other exchanges during 2010 to 2014. Customer transactions executed on exchanges are subject to payment of exchange and clearing fees that are applied to each transaction, the CFTC said, adding that clearing firms such as J.P. Morgan Securities LLC receive invoices for these fees from the exchange clearinghouses, which the firms pass on to their customers. The CFTC said that this led to instances in which JPMS overcharged some customers in an aggregate amount of approximately $7.8 million. It noted that JPMorgan discovered the problem in 2014 and self-reported it to the CFTC, after which it took remedial steps, including refunding adversely affected customers.