ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • What should investors do with Bajaj Auto Buyback? Anil Singhvi suggests this
  • JP Morgan bullish on global markets in H2; rejects possibility of recession, sees inflation receding in second half
  • Dalal Street Corner: Easing commodity prices, buying interest in IT, Metal help market extend gains; what should investors do on
  • PM Modi meets Joe Biden, Emmanuel Macron and Justin Trudeau at G7 Summit
  • Mahindra Scorpio-N 2022: Finally, New Scorpio is here - Price, Booking Open Date, Delivery Date, Variants, Features and more
Read in App
Business News » World News

US Fed permanently bars former JPMorgan banker over China hiring scandal

In 2016 the bank agreed to pay a total of $264 million to the U.S. Securities and Exchange Commission, the Justice Department and the Fed, to resolve the allegations its hiring program had violated the U.S. Foreign Corrupt Practices Act.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
US Fed permanently bars former JPMorgan banker over China hiring scandal
The Fed said on Thursday Fletcher had "engaged in unsafe and unsound practices, breaches of fiduciary duty, and violations of law." Image source: Reuters

The US Federal Reserve said on Thursday it was barring former JPMorgan Chase & Co Managing Director Timothy Fletcher from the industry for life over his role in a China hiring program for which the bank was fined $264 million in 2016.

The Fed alleged that Fletcher had "improperly administered" the program to hire relatives of Chinese officials "in order to obtain improper business advantages for the firm." The Fed said Fletcher consented to the prohibition.

Fletcher, who had worked at JPMorgan`s Hong Kong unit, could not could immediately be reached for comment.

In 2016 the bank agreed to pay a total of $264 million to the U.S. Securities and Exchange Commission, the Justice Department and the Fed, to resolve the allegations its hiring program had violated the U.S. Foreign Corrupt Practices Act.

The Fed said on Thursday Fletcher had "engaged in unsafe and unsound practices, breaches of fiduciary duty, and violations of law."

Watch this Zee Business video

The regulator said it was also requiring Fletcher to cooperate in any pending or potential enforcement action against other individuals who are or were affiliated with the firm.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
US Federal Reserve
Written By: Reuters
Updated: Fri, Feb 22, 2019
06:23 am
Washington, Reuters
RELATED NEWS
Dollar takes breather ahead of U.S. inflation test Dollar takes breather ahead of U.S. inflation test
Inflation triggering market volatility, says Abakkus Asset Manager founder Sunil Singhania; remain positive to seize buying opportunities, he adds Inflation triggering market volatility, says Abakkus Asset Manager founder Sunil Singhania; remain positive to seize buying opportunities, he adds
Rupee falls 11 paise to settle at 75.95 against US dollar Rupee falls 11 paise to settle at 75.95 against US dollar
Rupee spurts by 42 paise to 76.20 against US dollar on stocks rally Rupee spurts by 42 paise to 76.20 against US dollar on stocks rally

LATEST NEWS

Rupee gains 6 paise against dollar in early trade

Mahindra Scorpio-N 2022: Finally, New Scorpio is here - Price, Booking Open Date, Delivery Date, Variants, Features and more

Gold price outlook: Why yellow metal may trade volatile this week? Know key buy zone, sell zone here

Gold price jumps Rs 302 in national capital

What should investors do with Bajaj Auto Buyback? Anil Singhvi suggests this

OnePlus Nord 2T to launch with Dimensity 1300 chipset in India - All you need to know

Realme C30 India sale begins; Price starts at Rs 7,499 - Check availability and specifications

Mahindra Scorpio-N Launch Event LIVE: Date, time, direct link - When, where, how to WATCH arrival of New Scorpio 2022

Where is Elon Musk as America faces biggest issues of its times

AAI Recruitment 2022: Apply for 400 Junior Executive vacancies at Airports Authority of India; check last date, how to apply online and more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV