(MENAFN) Banking Regulation and Supervision Agency (BDDK) in Turkey opened an inquiry to look into JP Morgan and other banks following complaints.
JP Morgan and the other banks are suspected on "misleading and manipulative actions" after the Turkish currently experienced a significant decline on Friday.
According to complaints, JP Morgan issued a report that damaged the standing and the name of Turkish banks, causing instability in financial markets.
Turkey's banking and capital markets watchdogs confirmed "an investigation has been initiated due to the misleading and manipulative content of the reports by JP Morgan."
It added "the necessary administrative and judicial processes" would be conducted into the matter.
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