The US authorities have opened an investigation into the hiring of the banking giant JPMorgan Chase in China. The New York Times reveals it, according to which the suspicion of the SEC, which has not yet been verified, concerns the fact that the bank, to pave the way for its business in China, instead of the usual 'bribes', has hired relatives and above all young scions of powerful Chinese state-owned enterprise executives.
For the large US investment banks, it is a fairly widespread practice to hire the children of Chinese politicians and high rankings. In the case of JPMorgan, according to the NYT, the suspicious hirings in China would have been examined in the context of a civil investigation by the anti-corruption commission of the SEC.
