Probe on hiring practices goes beyond JPMorgan

For Hire

U.S. authorities are seeking information from several banks and hedge funds on their hiring practices, focusing on the hiring of relatives of well-connected foreign officials with the intent of winning business, the Wall Street Journal reported, citing people with knowledge of the situation.

Reuters reports that U.S. authorities are seeking information from several banks and hedge funds on their hiring practices, focusing on the hiring of relatives of well-connected foreign officials with the intent of winning business, the Wall Street Journal reported, citing people with knowledge of the situation.

The enquiry goes beyond a probe disclosed by JPMorgan earlier this month. The bank has not been accused of wrongdoing.

The Journal did not identify which banks and hedge funds have been contacted by U.S. authorities.

U.S. anti-bribery laws prohibit hiring any individual in exchange for a specific favour or benefit from an outside business partner or client.

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U.S. authorities widen hiring probe beyond JPMorgan

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