Turkish watchdog to investigate JP Morgan, other banks: Anadolu

March 23, 2019

ISTANBUL (Reuters) – Turkey’s banking watchdog has launched an investigation into JP Morgan over complaints about a report it published on Friday, state-owned Anadolu news agency said on Saturday.

The BDDK watchdog was quoted as saying that it had received complaints that the report hurt the reputation of Turkish banks and caused volatility in financial markets. A judicial process will be carried out regarding JP Morgan, Anadolu said.

It was not immediately clear what JP Morgan’s report was about.

BDDK also said it was investigating claims that some banks lead clients to buy foreign currencies in a manipulative and misleading way and that a judicial process would be carried out regarding those involved, Anadolu reported.

(Reporting by Umit Bektas; Writing by Ali Kucukgocmen; Editing by Clelia Oziel)

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