Citigroup Inc. and JPMorgan Chase & Co. are putting their top London currency dealers on leave after regulators probing the manipulation of foreign-exchange rates started investigating the traders’ use of an instant-message group, three people with knowledge of the moves said.
A Bitcoin trade group met yesterday with the U.S. Treasury Department’s Financial Crimes Enforcement Network and an array of law-enforcement officials and regulators to discuss oversight of the digital currency.
Former JPMorgan Chase & Co. trader Javier Martin-Artajo was released from police custody after telling a Madrid court he opposed attempts by U.S. prosecutors to extradite him on charges he hid trading losses that cost the bank $6.2 billion.
The U.S. Treasury Department’s inspector general has threatened to punish JPMorgan Chase & Co. for failing to turn over documents to regulators investigating the bank’s ties to Bernard Madoff’s Ponzi scheme.
JPMorgan Chase & Co. and Bank of America Corp. are helping clients find an extra $2.6 trillion to back derivatives trades amid signs that a shortage of quality collateral will erode efforts to safeguard the financial system.
Millions of dollars in penalties slapped on some of the world’s biggest banks, including JPMorgan Chase & Co., by U.S. regulators are the result of policing powers established after the 2001 collapse of Enron Corp.