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Commodities Briefing - Categorized | Financial, Regulatory more

Senate panel opens probe of banks’ commodities businesses

Posted on 31 July 2013

A U.S. Senate panel known for hard-hitting investigations of Wall Street and financial markets has launched a preliminary examination into potential conflicts of interest posed by banks’ role in physical commodity markets, according to people familiar with the matter.
The U.S. Senate Permanent Subcommittee on Investigations, led by Sen. Carl Levin (D.,Mich.), has sent information requests in recent months to banking giants J.P. Morgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley, as well as their primary regulator, the Federal Reserve, one of the sources said………………………………………..Full Article: Source


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