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On September 14th, it was learned that the State Administration for Market Regulation (CNMR) recently issued the "Announcement on Strengthening the Management of Certification Information Reporting and Certification Certificate Information Inquiry," outlining reforms to the management of certification information reporting and certification certificate inquiry. The "Announcement" clarifies the requirements for full-cycle information reporting. It stipulates that certification bodies must report relevant certification information to the CNMR within the prescribed time limits, achieving standardized and comprehensive information reporting for certification activities. Going forward, the CNMR will strengthen supervision and inspection of the implementation of the "Announcement," promoting certification bodies to strictly fulfill their responsibilities for information reporting and certificate inquiry services, and continuously enhancing the credibility of quality certification.On September 14th, UK government bond yields rose again in early trading, hitting multi-year highs across all maturities, driven by escalating oil price spikes due to escalating supply tensions in the Middle East. According to LSEG data, the 30-year bond yield rose to 5.951%, its highest level since March 1998, while the 5-year yield reached its highest level since July 2008. Investors are betting that the Bank of England will gradually tighten monetary policy over the next year as inflationary pressures from rising oil prices increase. This trend has further weakened the buffer between the UKs existing budget plan and fiscal rules. Furthermore, the UKs short-term bonds have underperformed similar bond markets in other major economies—a phenomenon particularly evident during periods of high oil and gas prices, reflecting the UKs dependence on imported energy. Sahil Mahtani, head of the Ninety One Investment Institute, said: "The unsettling signal from the government bond market is that this situation is being interpreted as a problem of UK inflation. The UK, like other countries, has been affected by the same global shocks, but the market is demanding far greater compensation for the UKs inflation risk. This is one of the reasons why the government cannot simply attribute the sell-off to external factors."The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.6 occurred at 17:07 on September 14 near Mojiang County, Puer City, Yunnan Province (23.15 degrees north latitude, 101.61 degrees east longitude). The final result is subject to the official rapid report.Nvidia (NVDA.O) shares fell 3% in pre-market trading.The yield on 30-year UK government bonds reached 5.951%, the highest level since February 1998.

JPMorgan Denies Responsibility For Its Top Banker's Jeffrey Epstein Ties

Haiden Holmes

Feb 23, 2023 11:58

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JPMorgan Chase & Co (NYSE:JPM) stated on Wednesday that it should not be held culpable for a former executive's relationship with Jeffrey Epstein in a lawsuit accusing the largest U.S. bank of aiding its former client's sex trafficking operation.


JPMorgan stated in a court filing in Manhattan that emails between former executive Jes Staley and Epstein did not support the U.S. Virgin Islands' claim that Staley could "detect Epstein's sex trafficking."


In addition, the bank stated that there was no evidence that Staley's personal travel to the islands or alleged inappropriate emails were part of his employment, and that even if Staley had helped "direct" Epstein's sex trafficking, "his conduct would have been far beyond his authority as a JPMC employee."


JPMorgan stated in its motion to dismiss the "misdirected and deficient" lawsuit that there was no plausible explanation for how it could have known about Epstein's malfeasance and profited from it during the years 2000 to 2013.


Attorneys for the United States Virgin Islands did not respond promptly to requests for comment. Staley is not an accused.


In August of 2019, Epstein committed suicide in a Manhattan prison cell while awaiting prosecution on sex trafficking charges.


JPMorgan's dismissal motion was filed one week after a court filing alleged that Staley and Epstein had exchanged approximately 1,200 sexually explicit emails between 2008 and 2012.


In 2008, Epstein pled guilty to a Florida state prostitution charge.


Staley, the former head of private finance at JPMorgan, has admitted to having a friendship with Epstein, but he has disputed knowledge of his alleged crimes.


Staley became CEO of Barclays (LON:BARC) Plc after leaving JPMorgan, but resigned in November 2021 amid a dispute with British financial regulators investigating his connections to Epstein.


In December 2022, the U.S. Virgin Islands filed a lawsuit against JPMorgan for unspecified damages, alleging that the bank should have been aware of Epstein's misconduct on a private island he owned there.


JPMorgan and Deutsche Bank AG (NYSE:DB), where Epstein was a client from 2013 to 2018, are also being sued by Epstein's victims. Both institutions are pursuing dismissals.


Case number 22-10904 is Government of the U.S. Virgin Islands v. JPMorgan Chase Bank NA in the U.S. District Court for the Southern District of New York.

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