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The Zacks Analyst Blog Highlights: JPMorgan Chase, Citigroup, Morgan Stanley, HSBC Holdings and UBS

CHICAGO, Aug. 18, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the JPMorgan Chase & Co. (NYSE:JPM-Free Report), Citigroup Inc. (NYSE:C-Free Report), Morgan Stanley (NYSE:MS-Free Report), HSBC Holdings plc (NYSE:HSBC-Free Report) and UBS AG (NYSE:UBS-Free Report).

Zacks Investment Research, Inc., www.zacks.com

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Friday's Analyst Blog:

Banks in Talks to Settle Currency-Rigging Charges?

According to a Bloomberg report, major global banks have been notified by the regulators that enforcement actions are being planned against them for allegedly rigging the currency rates. At the same time, talks to settle those investigations are also in progress between the banks and the U.S. Federal Reserve and the Office of the Comptroller of the Currency.

The enforcement actions could lead to cease-and-desist orders, penalties or banning of bankers from the industry. Additionally, banks like JPMorgan Chase & Co. (NYSE:JPM-Free Report), Citigroup Inc. (NYSE:C-Free Report) and Morgan Stanley (NYSE:MS-Free Report), among others, have been sent letters outlining the exact finding and a note of caution regarding imminent enforcement actions. The banks have 15 days to reply in defense.

Along with the U.S. regulators, U.K.'s Financial Conduct Authority (FCA) is also involved in settlement talks with major banks including Citigroup, JPMorgan, HSBC Holdings plc (NYSE:HSBC-Free Report) and UBS AG (NYSE:UBS-Free Report).

Regulators across the globe are dealing seriously with the allegations of banks rigging WM/Reuters rates, which are used for determining foreign exchange prices. Also, several banks conducted internal investigations and handed over the findings to the regulators. Based on these internal probes, banks fired/suspended several bankers for their alleged role in rigging WM/Reuters rates.

WM/Reuters rates are published hourly for 160 currencies and half-hourly for the 21 most-traded ones. Hence, it is  a widely accepted standard, the rigging of which will necessarily undermine the importance of the rate and result in negative financial consequences.

The law-enforcement agencies are trying fast-track settlements with the banks in order to avoid lengthy litigations. According to us, this will favor the banks too, as many of them are currently facing several other probes and litigations, thus hampering their financials.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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