Banks' misconduct costs a major risk for shareholders
As at end-2013, 10 banks had incurred total costs - including fines, settlements and provisions - of £157.4b
London
MULTIBILLION-DOLLAR US, European and Asian regulatory fines, settlements and civil litigation over alleged misconduct have become a major risk for bank shareholders.
Banks that hit the headlines this week were HSBC and JP Morgan following numerous other examples in the past few months. JP Morgan Chase disclosed the US Justice Department is conducting a criminal investigation of its foreign-exchange dealings while other regulators are running civil investigations.
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