JPMorgan to HSBC Euribor Fines Seen as Almunia Parting Shot

JPMorgan Chase & Co. and HSBC Holdings Plc face a European Union complaint as soon as next month as the bloc’s antitrust chief races to fine a quartet of financial companies that snubbed rate-rigging settlements.

Joaquin Almunia, whose term ends on Oct. 31, is determined to punish the two banks as well as Credit Agricole SA and interdealer broker ICAP Plc before he leaves office, said three people familiar with the probe who asked not to be named because the process is private. To meet the target, he plans to send so-called statements of objections in the Euribor and Libor cases close to Easter, two of the people said.