NEW YORK — Federal officials are conducting criminal and civil investigations into whether JPMorgan Chase(JPM) improperly tried to depress silver prices, according to a published media report.
The Commodity Futures Trading Commission is looking into filing civil charges, while the Department of Justice’s Antitrust Division is managing the criminal investigation, according to the report, published Sunday on the New York Post’s Web site.
The report, which cited anonymous sources, described the probes as “far-ranging” and said officials were looking into JPMorgan’s trading on exchanges in New York and London.
The bank is a major holder of precious-metals derivatives.
The Department of Justice, Commodity Futures Trading Commission and JPMorgan all declined to comment, the report said.
Shares of JPMorgan Chase finished Friday at $40.76.
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