Federal Reserve Board seeks to fine and prohibit two former managing directors at J.P. Morgan Securities (Asia Pacific) from employment in banking industry

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Federal Reserve Board seeks to fine and prohibit two former managing directors at J.P. Morgan Securities (Asia Pacific) from employment in banking industry

Postby kreslik.news » Thu Mar 09, 2017 8:15 pm


The Federal Reserve Board announced on Friday it will seek to fine and prohibit Fang Fang and Timothy Fletcher, two former managing directors at J.P. Morgan Securities (Asia Pacific) Limited, from working in the banking industry for their participation in a referral hiring program that violated anti-bribery law.

Fang and Fletcher are alleged to have offered internships and other employment opportunities to individuals referred by foreign officials, clients, and prospective clients in order to obtain improper business advantages in violation of firm policies and U.S. anti-bribery law. In addition to permanently prohibiting them from the banking industry, the Board ... (read more)

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