Aug 20 JPMorgan Chase & Co has hired New
York law firm Paul, Weiss, Rifkind, Wharton & Garrison to
investigate its hiring practices in Hong Kong, the Financial
Times reported citing people familiar with the matter.
The law firm will respond to inquiries from the Securities
and Exchange Commission about whether the bank's Hong Kong
office hired children of key Chinese officials to help it win
underwriting business and other contracts, the newspaper
The SEC is questioning JPMorgan, the largest U.S. bank, over
its relationships with at least two families in China that may
have legitimate explanations, sources told Reuters.
JPMorgan and Paul, Weiss, Rifkind, Wharton & Garrison were
unavailable for comment outside U.S. business hours.
JPMorgan's shares closed at $52.12 on Monday on the New York