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发帖数: 11530 | 1 3 November 2014 Last updated at 19:04 ET
JP Morgan faces US currency trading probe
JP Morgan JP Morgan has faced a spate of fines in recent years
HSBC reserves $378m in currency probe
Barclays sets aside £500m in probe
RBS reserves £400m for currency probe
JP Morgan Chase, the largest bank in the US, has revealed it is under
investigation over currency trading.
The firm said the US Department of Justice (DoJ) had launched a criminal
investigation, while other regulators are running civil investigations.
It added that possible losses from all its the legal proceedings could total
$5.9bn (£3.7bn).
A number of other banks, including HSBC, RBS and Barclays, have recently set
aside sums to cover similar probes.
Global lenders, such as Citigroup and UBS, are also being investigated over
the alleged rigging of foreign-exchange rates.
In a filing with the Securities and Exchange Commission (SEC) on Monday, JP
Morgan said that it was co-operating with authorities, and currently engaged
in discussions aimed at "resolving their respective investigations".
But, the firm added, "there is no assurance that such discussions will
result in settlements".
As well as the criminal investigation by the DoJ, JP Morgan revealed it also
faces civil investigations by the Commodity Futures Trading Commission (
CFTC), the UK's Financial Conduct Authority (FCA) and "other foreign
government authorities".
Last year, JP Morgan Chase agreed to a record $13bn settlement with US
authorities for misleading investors during the housing crisis. | W***n
发帖数: 11530 | |
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