JP Morgan Chase (JPM.N: Quote) has hired a New York law firm Paul, Weiss, Kinder, Wharton and Garrison explore its hiring practices in Hong Kong, the British "Financial Times" reported citing people familiar with the matter.
The firm will respond to queries Securities and Exchange Commission (SEC) whether the bank's Hong Kong office, hired a Chinese children of principal officials to help it win underwriting business and other contracts, the newspaper reported. (Link.reuters.com/ban52v)
SEC questioned JP Morgan Chase, the largest U.S. bank, in China at least two families may have a legitimate explanation, in its relations sources told Reuters reporters.
JP Morgan Chase (JPMorgan) and Paul, Weiss, Kinder, Wharton and Garrison outside the United States Hours not be reached for comment.
JP Morgan's share price on Monday in New York Stock Exchange to close at $ 52.12.



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