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Entries in Hiring (18)

Monday
Mar132017

Fed seeks lifetime ban for bankers who ran JP Morgan ‘princeling’ program

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.

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Monday
Feb272017

Feds investigate Citigroup for ‘princeling’ hiring practices

Citigroup Inc. said Friday it is being investigated for hiring practices that might violate the FCPA.

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Wednesday
Jan112017

Memo to movie makers: Film roles can be something ‘of value’ 

In the fall of 2013, the FCPA Blog published my series Cameo Corruption, which focused on the potential use of film roles as something “of value” that could be improperly offered to influence foreign officials.

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Thursday
Nov172016

JPMorgan pays $264 million to resolve ‘Sons & Daughters Program’ FCPA offenses

JPMorgan Chase and a Hong Kong subsidiary agreed Thursday to pay $264.4 million to the DOJ, SEC, and Federal Reserve to resolve FCPA offenses for awarding prestigious jobs to relatives and friends of Chinese government officials to win banking deals.

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Monday
Nov072016

Scott Moritz: A plan to integrate the compliance program after an acquisition

As mentioned in my post last week, one way the DOJ determines if a company has performed the required anti-corruption due diligence when acquiring an entity is looking at whether the new entity was promptly incorporated into the acquiring company’s internal controls, including its compliance program.

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Tuesday
Aug162016

Compliance Alert: Hospitality and hiring in South Korea

We've talked about South Korea's foreign bribery laws and we looked at specific compliance risks related to gift giving, rebates, and kickbacks. In this post we'll look at enforcement actions in South Korea and what specific steps can reduce compliance risks there.

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Tuesday
Mar082016

Kristy Grant-Hart: What went wildly wrong at Qualcomm? Let's look at HR

With every enforcement action comes lessons and warning tales for other companies and compliance officers.  Last week Qualcomm paid $7.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act by hiring relatives of Chinese officials responsible for deciding whether to select the company’s mobile technology products.

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Tuesday
Mar012016

Qualcomm settles FCPA charges in princeling hiring case for $7.5 million

The Securities and Exchange Commission said Tuesday that Qualcomm Incorporated agreed to pay $7.5 million to settle charges that it violated the Foreign Corrupt Practices Act by hiring relatives of Chinese government officials.

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Wednesday
Feb242016

HSBC: SEC investigating Asia hiring practices

HSBC Holdings said in an earnings release Monday that the SEC is investigating the bank's hiring practices in Asia.

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Monday
Aug242015

How to hire a princeling: Six rules anyone can follow

Last week BNY Mellon agreed to pay the SEC $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by awarding student internships to kids of officials connected with a sovereign wealth fund in the Middle East.

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Tuesday
Aug182015

BNY Mellon pays $15 million in FCPA settlement for internship hiring practices

The Securities and Exchange Commission Tuesday said BNY Mellon agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by providing valuable student internships to family members of foreign government officials affiliated with a Middle Eastern sovereign wealth fund.

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Tuesday
May192015

New SEC subpoena asks if BNY Mellon hired government officials

In a securities filing this month, Bank of New York Mellon Corp. said it received a subpoena from the SEC asking about job offers to government officials and internships awarded to their family members.

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