Banks around the world have legal and financial difficulties including; JP Morgan, Barclays and Deutsche Bank. A division of JP Morgan Chase & Co. known as JP Morgan Ventures Energy Corporation was sentenced to 410 million $ by the Federal Energy Regulatory Commission to allegedly manipulate electricity markets. The company will pay 285 million $ in civil penalties and restitution of 125 million $ of unjust profits. Under the terms of the agreement, the division admits the facts but not admitting or denying the violations. The costs are related to the markets in the Midwest and California from September 2010 to November 2012. Investigators alleged that JP Morgan Ventures Energy Corporation participated in 12 manipulative strategies of tender.
Britain´s the second largest bank, Barclays PLC disputes accusations of financial conduct authority. The regulator investigates charges that the Bank paid to the Qatar during a 10.7 billion fundraising effort $ which helped the Bank avoid a rescue plan. The financial authority to conduct survey on if Barclays disclosed legally paid charges to the Qatar Investment Authority. Four current and former employees are considered including the Finance Director Chris Lucas.
The largest bank continental Europe, Deutsche Bank AG´s profit fell almost by half due to the cancellation 796 million $ for legal costs. The Bank is involved in a number of judgments of the Court, it is defendant in civil proceedings as an issuer of mortgage-backed securities, he is also accused of tax evasion in the carbon markets and they have been accused of manipulating the interbank lending rate. Deutsche Bank so that three other companies were fined Milan of fraud in the sale of derivatives CEO Anshu Jain said he expects institutions to accelerate in the coming quarters, but refused to elaborate.