U.S. Opens Probe Into Metals Warehousing

The Department of Justice has opened an initial probe into the metals warehousing industry, according to a person familiar with the matter.

The probe comes amid growing concern in Washington over banks’ ownership of metals warehouses and other commodity assets.

The Commodity Futures Trading Commission has also sent letters to some firms telling them to preserve documents, in what is likely the beginning stages of an investigation, according to other people briefed on the matter.


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