JPMorgan’s Asia Subsidiary To Pay $264M To Settle FCPA Violation Claims

(November 18, 2016, 9:35 AM EST) -- BROOKLYN, N.Y. — The Asian subsidiary of JPMorgan Chase & Co. has agreed to pay $264 million to settle claims with three government agencies over its involvement in a scheme to “corruptly gain advantages in winning banking deals by awarding prestigious jobs to relatives and friends of Chinese government officials” in violation of the Foreign Corrupt Practices Act, according to press releases issued on Nov. 17 by the Department of Justice, the Securities and Exchange Commission and the Federal Reserve Board....

Related Sections