A top Chinese regulator with influence over insurance companies personally asked JPMorgan’s chief executive Jamie Dimon for a “favor” to hire a young job applicant, the New York Times’ Dealbook said Sunday.… Continue Reading
JP Morgan’s controversial “Sons and Daughters” hiring program is still under the microscope, most recently in a New York Times article that said the practice was an open secret among employees.… Continue Reading
The front page of the New York Times featured a long article this week about the new middle class life you are creating in Guanajuato based on employment by multinationals and investment in education.… Continue Reading
The U.K.’s Serious Fraud Office (SFO) obtained an order from a British judge last month forbidding the Wall Street Journal from printing the names of dozens of individuals who are expected to be named as co-conspirators in the SFO’s investigation of the London interbank offer rate (LIBOR).… Continue Reading
We considered in a prior post the new spirit of tough enforcement at the DOJ and SEC and the need to seize the opportunity for more advocacy by the compliance profession, in particular to head off a resolution of the Wal-Mart investigation harmful to compliance officers and the public.… Continue Reading
In a prior post concerning the special role and risks of compliance officers, I criticized the way they’re lumped together with other employees instead of being recognized for the unique anti-corruption work they do daily.… Continue Reading
Wal-Mart is the largest retail organization on the planet. Indeed its nickname among financial analysts is “Planet Wal-Mart.” Repeatedly ranked Number One on the Fortune 500 list, Wal-Mart has more revenue than Apple, IBM, Microsoft, Amazon and Pepsi – COMBINED.… Continue Reading
The SEC is investigating whether JP Morgan Chase violated the FCPA by hiring two children of Chinese officials to win business.
The New York Times reported Saturday that the investment bank hired the son of the chairman of the China Everbright Group, a China state-controlled conglomerate, and won business from the group that included a stock offering by a subsidiary.… Continue Reading
Wal-Mart said Thursday it expects to spend between $75 million and $80 million for each of the next two quarters for FCPA matters and compliance programs.
It spent $82 million on FCPA and compliance during its fiscal second quarter ended July 31, $12 million to $17 million above its estimate.… Continue Reading