jpmorgan chase & co (JPM) Key Developments
JPMorgan Chase & Co. Presents at 25th AFSA Credit Summit for Fixed Income Investors, May-28-2015 08:30 AM
May 23 15
JPMorgan Chase & Co. Presents at 25th AFSA Credit Summit for Fixed Income Investors, May-28-2015 08:30 AM. Venue: The Ritz-Carlton, Battery Park, Two West Street, New York, NY 10004, United States. Speakers: Eric Beinstein, Managing Director and Head of U.S. High Credit Research & Strategy.
JPMorgan Chase, Citigroup, Barclays, and the Royal Bank of Scotland to Pay $5 Billion Fine
May 21 15
JPMorgan Chase, Citigroup, Barclays, and the Royal Bank of Scotland agreed to pay more than $5 billion in penalties and plead guilty to rigging the currency markets. Traders at JPMorgan Chase, Citigroup, Barclays, and the Royal Bank of Scotland were accused of conspiring among themselves to manipulate rates on the foreign-exchange market, where hundreds of billions of dollars and euros change hands. The penalties are a victory for the government and reflect a broader effort by the Justice Department, long criticized as reluctant to prosecute big banks, to tackle financial misconduct. The four banks can continue to do business in the currency markets. No executives have been charged, though that part of the investigation continues. The banks will pay a combined $2.5 billion in criminal penalties for manipulation of currency rates between 2007 and 2013. The Federal Reserve is slapping them with an additional $1.6 billion in fines. In addition, Britain's Barclays is paying an additional $1.3 billion to British and US regulators. All told, including an agreement announced last year, the group of banks will pay nearly $9 billion in fines for manipulating the $5.3 trillion currency market.
JPMorgan Chase Announces Settlements with the U.S. Department of Justice and the Federal Reserve Related to Foreign Exchange Activities
May 21 15
JPMorgan Chase & Co. announced settlements with the U.S. Department of Justice (DOJ) and the Federal Reserve (Fed) relating to the Firm's foreign exchange (FX) trading business. Under the DOJ resolution, JPMorgan Chase & Co. will plead guilty to a single antitrust violation and pay a fine of $550 million. Under the resolution with the Fed, the Firm will pay a fine of $342 million and has agreed to the entry of a Consent Order. The Firm has previously reserved for these settlements. These settlements are in addition to agreements announced in November 2014 with the U.K. Financial Conduct Authority, the U.S. Commodity Futures Trading Commission and the U.S. Office of the Comptroller of the Currency relating to the FX trading business.
DLF Limited To Lists Two REITs
May 21 15
DLF Limited (BSE:532868) announced plans to list two Real Estate Investment Trusts for its rent-yielding commercial assets. DLF has previously said it has hired JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS) to advise it on planned listings of real estate investment trusts and other efforts to raise cash.
JPMorgan Seeks Acquisitions
May 21 15
JPMorgan Chase & Co. (NYSE:JPM) is looking for acquisition opportunities. JPMorgan has announced a fixed-income offering and will use the net proceeds receive from the sale of the subordinated notes offered by this prospectus supplement for general corporate purposes. General corporate purposes may include the repayment of debt, investments in or extensions of credit to our subsidiaries, redemption of our securities or the financing of possible acquisitions or business expansion.