JPMorgan hiring practices under investigation by several regulators

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JPMorgan has said the Justice Department’s criminal division is among regulators investigating its hiring practices in Asia.

Bloomberg News reports that the lender is also facing probes by the Securities and Exchange Commission, JPMorgan said Friday in a filing. Regulators are seeking to determine whether the bank violated anti-bribery laws by hiring the children and other relatives of well-connected politicians and clients in China in exchange for having business steered to the firm, people familiar with the matter said in 2013. JPMorgan hadn’t named the agencies in its disclosures on the matter until Friday’s quarterly regulatory filing.

“The firm is responding to and cooperating with these investigations,” JPMorgan said in the filing.

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JPMorgan Says Justice Department, SEC Probing Hires in Asia

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