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JPMorgan Chase faces a fine of $920m for market manipulation
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JPMorgan Chase faces a fine of $920m for market manipulation
JPMorgan Chase faces a fine of $920m for market manipulation
Oct 3rd 2020
NEW YORK
MANY OF THE big market-manipulation scandals over the past decade have much in common: huge fines for the investment banks, criminal charges for the traders and an embarrassing paper trail revealing precisely what bank employees got up to. Interest-rate traders who manipulated the London Interbank Offered Rate (LIBOR) messaged each other with pleas to put their fixes in low. Foreign-exchange traders infamously called a chat room in which they discussed rigging exchange rates “the cartel”.
The case against JPMorgan Chase for manipulating precious-metals and Treasury markets has many of the usual features. On September 29th it admitted to wrongdoing in relation to the actions of employees who, authorities claim, fraudulently rigged markets tens of thousands of times in 2008-16. The bank agreed to pay $920m to settle various probes by regulators and law enforcement; this includes a $436.4m fine, $311.7m in restitution to parties harmed by the practices and $172m in disgorgement (ie, paying back unlawfully earned profits).
https://www.economist.com/finance-and-economics/2020/10/03/jpmorgan-chase-faces-a-fine-of-920m-for-market-manipulation
Oct 3rd 2020
NEW YORK
MANY OF THE big market-manipulation scandals over the past decade have much in common: huge fines for the investment banks, criminal charges for the traders and an embarrassing paper trail revealing precisely what bank employees got up to. Interest-rate traders who manipulated the London Interbank Offered Rate (LIBOR) messaged each other with pleas to put their fixes in low. Foreign-exchange traders infamously called a chat room in which they discussed rigging exchange rates “the cartel”.
The case against JPMorgan Chase for manipulating precious-metals and Treasury markets has many of the usual features. On September 29th it admitted to wrongdoing in relation to the actions of employees who, authorities claim, fraudulently rigged markets tens of thousands of times in 2008-16. The bank agreed to pay $920m to settle various probes by regulators and law enforcement; this includes a $436.4m fine, $311.7m in restitution to parties harmed by the practices and $172m in disgorgement (ie, paying back unlawfully earned profits).
https://www.economist.com/finance-and-economics/2020/10/03/jpmorgan-chase-faces-a-fine-of-920m-for-market-manipulation
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RAJA MALING terkenal SEANTERO JAGAD dalam BERBAGAI HAL KEJAHATAN.
“Clearly, they are manipulating their currency from a trade point of view,” Navarro told CNBC’s “Closing Bell” on Friday. “They’re going to, and we’re going to take strong action against them.”
https://www.cnbc.com/2019/08/09/pete...e-tariffs.html
Infographic: How China Manipulates Its Currency
https://www.theatlantic.com/business...urrency/73201/
https://www.scmp.com/economy/china-e...ess-report-was
World Bank probing whether ‘Doing Business’ report was manipulated to benefit China, other nations
China’s ranking jumped to 31 in the latest report from 84 in 2016 – one of the most substantial jumps among the 190 countries ranked – with a raw score that rose to 77.9 from 62.93.
SUDAH DISETUJUI oleh KeMANTRIan china:
“Clearly, they are manipulating their currency from a trade point of view,” Navarro told CNBC’s “Closing Bell” on Friday. “They’re going to, and we’re going to take strong action against them.”
https://www.cnbc.com/2019/08/09/pete...e-tariffs.html
Infographic: How China Manipulates Its Currency
https://www.theatlantic.com/business...urrency/73201/
https://www.scmp.com/economy/china-e...ess-report-was
World Bank probing whether ‘Doing Business’ report was manipulated to benefit China, other nations
China’s ranking jumped to 31 in the latest report from 84 in 2016 – one of the most substantial jumps among the 190 countries ranked – with a raw score that rose to 77.9 from 62.93.
SUDAH DISETUJUI oleh KeMANTRIan china:
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