SEC Questions Citi, Morgan Stanley on Foreign Hiring Practices; New ...

Receiving Wide Coverage ...

Questioned: The Securities and Exchange Commission has stepped up its probe into Wall Street's foreign hiring practices. Anonymice are telling their favorite news outlets that Citigroup and Morgan Stanley have both received letters requesting information to determine whether the banks violated the Foreign Corrupt Practices Act. Scan readers will recall that, back in August, JPMorgan Chase revealed the regulator was investigating whether the bank habitually hired the children of prominent Chinese officials...