JPMorgan Chase & Co., the largest U.S. lender by assets, said the Justice Department’s criminal division is among regulators investigating its hiring practices in Asia.
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.
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