A U.S. regulator has expanded its probe into major banks’ hiring practices in Asia and sent letters to at least five U.S. and European banks in early March seeking more information, The Wall Street Journal reported Tuesday.
According to the Journal report, the U.S. Securities and Exchange Commission (SEC) sent the letters to Goldman Sachs Group Inc., Morgan Stanley, Citigroup Inc., Credit Suisse Group AG and UBS AG.
The SEC is examining whether the banks or their employees violated anti-bribery laws by hiring relatives of well-connected officials, the newspaper reported.
The regulator has not accused any of the banks of wrongdoing, the paper said.
Andrew Williams, a spokesman for Goldman Sachs, declined to comment on the report, as did Danielle Romero-Apsilos, a Citigroup spokeswoman, and Jack Grone, a spokesman for Credit Suisse.
(SD-Agencies)
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