Authorities are investigating whether JPMorgan Chase's Chinese offices hired young workers from prominent Chinese families that in turn offered the bank business.
The bank made a passing reference to a Securities and Exchange Commission investigation in its quarterly filing earlier this month, and The New York Times fanned the fire by reporting on a confidential U.S. government document that went into greater detail.
The document showed that the SEC is looking into the hiring of several well-connected young JPMorgan (JPM, Fortune 500) employees, including the son of the former vice chairman of China's top banking regulator and the daughter of a Chinese railway official, according to the Times...
http://money.cnn.com/2013/08/18/news/companies/jpmorgan-investigation-china/index.html
The document showed that the SEC is looking into the hiring of several well-connected young JPMorgan (JPM, Fortune 500) employees, including the son of the former vice chairman of China's top banking regulator and the daughter of a Chinese railway official, according to the Times...
http://money.cnn.com/2013/08/18/news/companies/jpmorgan-investigation-china/index.html
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