Sunday, August 18, 2013

US SEC is taking the jobs of Chinese SEC

US SEC takes the Responsibilities of Chinese SEC to investigate into Chase. Interesting If I could vote, will vote Mary White for her second term if any.!!!
The U.S. Securities and Exchange Commission’s anti-bribery unit is investigating whether JPMorgan Chase & Co. (JPM) hired the children of Chinese officials to help its business, The New York Times reported, citing a confidential government document.
The bank hired the son of a former Chinese banking regulator who is currently chairman of China Everbright Group Ltd., a state-controlled financial company, while its Hong Kong office employed a Chinese railway official’s daughter, according to the report. After each appointment, the bank secured assignments from companies connected to the new hires’ parents, according to the report.
The bank has not been accused of any wrongdoing, according to the report. The government document and public records cited by The New York Times do not indicate that the employees helped JPMorgan secure business or that they were unqualified, according to the report.