JPMorgan hiring in China being investigated

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...


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