Portugal hauling banks to court over derivatives trades

The Portuguese government is taking JPMorgan and Banco Santander Totta to court on allegations the banks sold it “toxic derivatives,” the Financial Times reports.

Read: NYSE Euronext sues Dutch derivatives trading platform

“The allegations in Portugal are similar to cases in Italy, where a court convicted banks of mis-selling derivatives, and the UK, where the ‘big four’ banks have been ordered to review their selling of interest-rate swap contracts.”

Read more here.

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