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Fed lifts restrictions on JPMorgan imposed after forex manipulation

Published 08/05/2021, 11:01 AM
Updated 08/05/2021, 12:51 PM
© Reuters. FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015.  REUTERS/Mike Segar/Files/File Photo

© Reuters. FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files/File Photo

© Reuters. FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015.  REUTERS/Mike Segar/Files/File Photo

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.

Latest comments

Lol a single trader
Great, they can go back to doing again.
They've done it again in 2016 and 2017. I still have it at CFTC under appeal with TDA.
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