U.S. to Seek Guilty Pleas From Parent Companies of Banks
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The U.S. Justice Department is seeking criminal guilty pleas from the parent companies of banks that are poised to admit to rigging foreign-exchange markets, said people briefed on the negotiations.
Four global banks -- Citigroup Inc., JPMorgan Chase & Co., Barclays Plc and Royal Bank of Scotland Group Plc -- plan to plead guilty in coming days to antitrust violations related to manipulating currency rates, people familiar with the matter have said. Some of the pleas will be made by the banks’ holding companies instead of individual units, two people said on Tuesday.