HALISTER: Ex-JPMorgan Trader Wins FCA Identity Suit Over London Whale (1)

Ex-JPMorgan Trader Wins FCA Identity Suit Over London Whale (1)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
JPM US (JPMorgan Chase & Co)

People
Bruno Iksil (JPMorgan Chase Bank)
Achilles MacRis (JP Morgan Chase Bank)
Christian Bittar (Deutsche Bank AG)
Julien Grout (JPMorgan Chase Bank Na)

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UUID: 7947283

HALISTER1: HSBC Allowed to Skirt Law With No Repercussions: Sen. Vitter

HSBC Allowed to Skirt Law With No Repercussions: Sen. Vitter

(Bloomberg) -- Report that says senior leadership at Justice Dept overruled internal recommendation to prosecute HSBC in 2012 for money laundering raises questions about Atty General Loretta Lynch’s judgment, says Sen. David Vitter, R-La.
  • “In light of newly released information regarding the HSBC settlement, the American people deserve to know why our nation’s top lawyers – including AG Lynch – allowed the megabank to violate federal laws with no real repercussions,” Vitter says in e-mailed statement
  • Vitter, who serves on Senate Banking and Judiciary cmtes, sent letter to Atty General Loretta Lynch today; Lynch oversaw agreement with HSBC that included a $1.9b fine
  • NOTE: GOP staff on House Financial Services Cmte yday released report on DOJ’s deferred prosecution agreement with HSBC
  • Vitter says during Lynch’s nomination process in early 2015, he requested information regarding her involvement, and in the 17 mos. since, Lynch has failed to adequately respond to several inquiries
  • “The fact that HSBC was only given a slap on the wrist with a fine is unbelievable and calls into question whether certain large financial institutions have no accountability under AG Lynch’s and President Obama’s leadership
    • ‘‘It certainly appears as though they are willing to look the other way for the rich and powerful, which fundamentally contradicts our nation’s core principles”
  • See link to letter
  • Related: Sealed HSBC Report Shows U.S. Managers Battling Cleanup Squad
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HSBA LN (HSBC Holdings PLC)

People
David Vitter (United States Senate)
Barack Obama (United States of America)
Loretta Lynch (United States Department of Justice)

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UUID: 7947283

HALISTER1: Brazil’s Real May Get Boost From BCB’s Zero-Swaps Goal: CA

Brazil’s Real May Get Boost From BCB’s Zero-Swaps Goal: CA

(Bloomberg) -- Central bank President Goldfajn’s aim to reduce its stock of swaps to zero from ~$60b may be a bullish rather than bearish signal for BRL, Vladimir Caramaschi, strategist at Credit Agricole Indosuez, says in a phone interview.
  • BCB’s signal reinforces view the bank’s goal is only to cut swaps holdings, not to interfere in the FX rate, Caramaschi says
    • Recent BRL gains show combined impact of external low- rates post-Brexit scenario with local optimism on reforms to be held by acting President Temer
    • Reports on expected election of new Lower House president aren’t concerning for markets; while PMDB’s Castro could be more risky for Temer plans, the more pro-government Rosso and Maia are favorites to win
  • NOTE: BCB’s goal was one of the remarks made by Goldfajn in a interview to FT; BCB’s head also said he could rely more on Brazil’s foreign exchange reserves to provide confidence to the markets
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Vladimir Caramaschi (Credit Agricole Brasil SA DTVM/Brazil)
Ilan Goldfajn (Banco Central do Brasil)
Michel Temer (Federative Republic of Brazil)

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UUID: 7947283