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JPMorgan referred to the investigation in a securities filing earlier this month. It said the SEC's enforcement division is seeking information about the bank's employment of some people in Hong Kong and its business relationships with some clients, but didn't give any other details. On Sunday, JPMorgan issued a statement saying "We publicly disclosed this matter in our 10-Q filing on Aug. 7, and are fully cooperating with regulators." A spokeswoman for the New York bank declined to comment further. The Times report said it's common for global companies to hire the children of Chinese politicians, but that it's unusual for a company to hire the children of officials of state-controlled companies. The government document did not definitively link JPMorgan hiring to its ability to win business, or suggest that the employees were unqualified, the Times reported. It also noted that there's nothing illegal about hiring well-connected people, as long as they're qualified for the job.
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