NEW YORK/LONDON/SINGAPORE: Regulatory scrutiny of precious metals trading at JPMorgan Chase & Co., one of the world's largest gold brokerages, has expanded to Singapore and ensnared two more bank employees, according to people familiar with the situation.
The Monetary Authority of Singapore (MAS) is looking into the bank's precious metals trading unit, three sources confirmed. A probe in the United States has resulted in criminal charges against six current and former employees of the bank. Regulators in the United Kingdom are also interested in the matter, Reuters has reported. [nL2N26W0E6]