Feb 23 (Reuters) - The U.S. Department of Justice and theCommodity Futures Trading Commission are investigating at least10 major banks for a possible rigging of precious-metalsmarkets, the Wall Street Journal reported, citing people closeto the inquiries.
Justice Department prosecutors are scrutinizing theprice-setting process for gold, silver, platinum and palladiumin London, while the CFTC has opened a civil investigation, thenewspaper said.
The banks under scrutiny are HSBC, Bank of NovaScotia, Barclays PLC, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, JPMorgan Chase & Co, Societe Generale,Standard Bank Group Ltd and UBS AG, thenewspaper said. (http://on.wsj.com/1FmfjWG)
Reuters could not immediately reach the banks, the DoJ andthe CFTC for comment outside regular U.S. business hours.
HSBC said earlier in the day that the CFTC issued asubpoena to HSBC Bank USA in January seeking documents relatedto the bank's precious metals trading operations.
HSBC was one of a number of banks named in lawsuits filed inU.S. courts last year alleging a conspiracy to manipulate gold,silver, platinum and palladium prices, plus precious metalsderivatives, during the daily precious metals fixes.
(Reporting by Supriya Kurane in Bengaluru; Editing by AnupamaDwivedi)
Barclays (BARC)
HSBC Holdings (HSBA)
