The Federal Reserve Board Friday said it will seek fines and permanent bans against two former managing directors at J.P. Morgan Securities (Asia Pacific) Limited who allegedly led an illegal hiring program.
Entries in JPMorgan Chase & Co. (5)
Regulators in the United States, Britain, and Switzerland penalized five banks $3.3 billion for rigging foreign-exchange benchmarks.
The SEC has expanded its investigation into several large banks' hiring practices in Asia, requesting more information that could show the firms violated the FCPA by hiring relatives of well-connected officials.
Some of the biggest U.S. banks are adding risk and compliance professionals as they seek to comply with increasing regulations, particularly in their overseas operations.
A key figure in the investigation of JPMorgan Chase's hiring practices in Asia is leaving the investment bank.