JP Morgan settles US probe over China 'influence' hiring

JP Morgan settles US probe over China 'influence' hiring
 

US bank JP Morgan Chase is to pay $264m (£212m) to settle claims it hired the children of highly placed Chinese people in order to gain business there.
The Securities and Exchange Commission (SEC) and the Justice Department launched an investigation in 2013.
The bank will pay the SEC $130m for violations under the Foreign Corrupt Practices Act.
It is also expected to pay $72m to the US Justice Department and $61.9m to the Federal Reserve Board of Governors.
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17 November 2016 in Business, Views: 45
Source: BBC
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