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Reuters: JPMorgan to pay $200M to settle probe into China hiring practices

Published 11/16/2016, 05:45 PM
Reuters: JPMorgan to pay $200M to settle probe into China hiring practices
JPM
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  • JPMorgan Chase (NYSE:JPM) will pay more than $200M to settle allegations that it had hired children of Chinese decision makers to win business, according to a Reuters report.
  • JPM reportedly would pay ~$130M to the SEC, which had opened an investigation into the bank in 2013 over the hiring practices, plus ~$70M to the Justice Department, with no individual prosecutions at this time.
  • JPM -0.2% AH following an earlier Fox Business report that Jamie Dimon likely would be named the new Treasury Secretary.


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