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US probes more Wall Street firms for China hiring practices

Goldman Sachs (GS.NYSE) and Deutsche Bank (DB.NYSE) are among five Wall Street firms whose hiring practices in China are being probed by regulators in the United States, The New York Times reported. Citigroup (C.NYSE), Morgan Stanley (MS.NYSE) and Zurich-based Credit Suisse Group (CS.NYSE) are also facing Securities and Exchange Commission (SEC) investigations, which are at an early stage. US authorities are examining whether JPMorgan violated anti-bribery laws by hiring the children and other relatives of well-connected politicians and clients in China in exchange for having business steered to the firm.

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