An internal investigation into JPMorgan Chase’s hiring practices in Asia is examining

An internal investigation into JPMorgan Chase’s hiring practices in Asia is examining the employment of around 200 people for instances of possibly illegal nepotism, a source said, indicating the bank’s hiring issues may extend beyond the two cases US officials originally asked about.

The Securities and Exchange Commission had requested information on two deals the bank may have won by hiring relatives of key officials, including the daughter of a Chinese state railway official, the person said.

US anti-bribery laws prohibit companies from hiring any individual in exchange for a specific favor or benefit from an outside business partner or client.

JPMorgan disclosed the inquiry in its quarterly regulatory filing earlier this month.

Bloomberg reported late Wednesday that the Department of Justice is now also involved in the probe.

The Justice Department has not requested anything from JPMorgan related to the SEC’s investigation, the source said.

Peter Carr, a spokesman for the DOJ, declined to comment. Florence Harmon, a spokeswoman for the SEC, also declined to comment. JPMorgan representatives have said the bank is cooperating with investigators.

JPMorgan’s internal probe is still in the preliminary stages, and has not reached any conclusions about whether or not any of the approximately 200 hirings were illegal.

Reuters