Fed lifts restrictions on JPMorgan imposed after forex manipulation
Reuters
Published Aug 05, 2021 11:01AM ET
Updated Aug 05, 2021 12:51PM ET
WASHINGTON (Reuters) - The Federal Reserve announced Thursday it had lifted a 2015 enforcement action imposed on JPMorgan Chase & Co (NYSE:JPM) after the bank pleaded guilty to attempting to manipulate the foreign exchange market.
The cease and desist order had been imposed on the bank as one of several actions taken against multiple global banks as part of a wide-ranging forex rigging probe. As part of the settlement, the bank had been directed to show the Fed how it had improved internal controls and policies. At the time, the bank attributed the misconduct principally to a single trader who had been fired.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.