Market Overview

JPMorgan Chase Settles Japanese Yen Libor Matter With EC

JPMorgan Chase (NYSE: JPM) today announced that it has reached a
€79,897,000 settlement with the European Commission regarding the
conduct of two former traders during a one-month period in early 2007
related to Yen LIBOR rates.

The settlement makes no finding that JPMorgan Chase management had any
knowledge or involvement in the conduct at issue, or that the traders'
actions had any impact on the firm's LIBOR submissions or the published
LIBOR rates.

Separately, the European Commission announced today that it intends to
continue its investigation of JPMorgan Chase in connection with
Euro-interest-rate derivatives referenced to the EURIBOR benchmark rate.
JPMorgan Chase has cooperated fully with the European

See full press release

Posted-In: News Guidance Offerings Legal Management Global

 

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