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Violation Tracker Individual Record

Company: JPMorgan Securities
Current Parent Company: JPMorgan Chase
Penalty: $72,000,000
Year: 2016
Date: November 17, 2016
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Mega-Scandal: Foreign Bribery
Violation Description: JPMorgan Securities (Asia Pacific) Limited, a Hong Kong-based subsidiary of multinational bank JPMorgan Chase & Co., agreed to pay a $72 million penalty for its alleged role in a scheme to corruptly gain advantages in winning banking deals by awarding prestigious jobs to relatives and friends of Chinese government officials.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.