November 17, 2016

JPMorgan Chase & Co.

Foreign Corrupt Practices Act

SANCTION AMOUNT: $130,591,405

Defendants: JPMorgan Chase & Co.

Part of a larger settlement also resolving a criminal probe, the Commission found that investment bankers at JPMorgan’s subsidiary in Asia created a client referral hiring program that bypassed the firm’s normal hiring process and filled well-paying, career-building positions based on referrals from client executives and influential government officials. This practice allegedly enabled the firm to win or retain business resulting in more than $100 million in revenues during a seven-year period.

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