© Inconnu
, people familiar with the matter said.
A handful of banks will likely resolve forex-rigging investigations by the U.S. Justice Department as soon as this week:
JPMorgan Chase & Co (
JPM.N) Citigroup (
C.N), British banks Royal Bank of Scotland (
RBS.L) and Barclays (
BARC.L) and Swiss bank UBS (
UBSG.VX).
It would be
unprecedented for parent companies or main banking units, rather than smaller subsidiaries, of so many major banks,
to plead guilty to criminal charges in a coordinated action, the people said.
Peter Carr, a spokesman for the U.S. Justice Department, declined comment. Spokespeople for Citi, JPMorgan, RBS, UBS, and Barclays all declined to comment.
If parent companies of U.S.-based JPMorgan and Citigroup plead guilty,
it would be the first time in decades that a major American financial institution has done so. Last year, when Swiss bank Credit Suisse AG (
CSGN.VX) pleaded guilty in the United States to helping wealthy Americans evade taxes, it became largest institution in over 20 years to plead to criminal wrongdoing. It was soon followed by French banking giant BNP Paribas (
BNPP.PA).
Comment: Wouldn't be the first time. Remember photos of US Senator John McCain holding what appears to be a round table discussion with lSIS leaders?