Manatt Partner Comments on SEC Investigation of Improper Hiring Practices
"5 Tips to Thwart FCPA Scrutiny of Hiring Practices"
Law360
September 4, 2013 - Manatt's Jacqueline C. Wolff, co-chair of the firm's Corporate Investigations & White Collar Defense Practice, spoke to Law360 on how to avoid regulatory scrutiny in an emerging area of the Foreign Corrupt Practices Act: improperly hiring the children of foreign government officials.
Law360 reports that the U.S. Securities and Exchange Commission is investigating whether JPMorgan's Hong Kong office violated the FCPA by hiring the son of the chairman of China Everbright Group and the daughter of the deputy chief engineer of China's Ministry of Railways. Following the hires, JPMorgan secured deals with the two state-owned entities.
The FCPA bars payments to foreign officials that are designed to retain or obtain business.
"Once you start dealing with government agencies or foreign officials, you have to be a little more vigilant," said Wolff.
Read the article here.