US charges JP Morgan precious metals traders with market manipulation and ‘racketeering’

Partner Bambos Tsiattalou comments on the recently published news that the US Department of Justice (DoJ) has charged JP Morgan precious metals traders with market manipulation and ‘racketeering’.

Bambos’ comments were published in City AM, 16 September 2019, and can be found here.

Global regulators will ask Facebook as early as today about its Libra cryptocurrency, as European Union member states – and possibly others – worry about how such a digital currency could hit financial stability and possibly enable illicit transfers, according to the Financial Times.

Officials from 26 central banks, including the US Federal Reserve and the Bank of England will meet with representatives of Libra in Basel on Monday, the newspaper, citing officials, said.

Bambos Tsiattalou, founding Partner at specialist criminal and civil litigation firm Stokoe Partnership Solicitors, said:

“Whilst the DoJ’s indictment makes for interesting reading, market manipulation cases are notoriously difficult to prosecute, often resulting in issues for prosecuting authorities.”