Turkey`s banking watchdog has launched an investigation into JP Morgan over complaints about a report it published on Friday, state-owned Anadolu news agency said on Saturday.

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The BDDK watchdog was quoted as saying that it had received complaints that the report hurt the reputation of Turkish banks and caused volatility in financial markets. A judicial process will be carried out regarding JP Morgan, Anadolu said.

It was not immediately clear what JP Morgan`s report was about.

BDDK also said it was investigating claims that some banks lead clients to buy foreign currencies in a manipulative and misleading way and that a judicial process would be carried out regarding those involved, Anadolu reported.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)