HNA Group says it has compliance clearance from JPMorgan, UBS

Hong Kong

CHINA'S HNA Group said on Wednesday several global banks have given it a clean chit after conducting compliance checks, a rare bit of good news for the cash-strapped conglomerate amid questions about its governance and ownership.

HNA said in a statement emailed to Reuters that it has passed know-your-customer (KYC), or internal due-diligence checks, of JPMorgan Chase & Co, UBS Group AG, Credit Suisse and Nomura, among others, in the past few months.

The aviation-to-financial services conglomerate has been facing additional scrutiny and due-diligence checks from banks and regulators following its July announcement that it changed its shareholding structure, while indicating that two previously named shareholders wer…