Media said America may big survey employment Chinese bank official two generation
[introduction] and more and more China enterprises "going out" the trend line, more and more children select officials worked in a more international and open financial industry.

When the domestic anti-corruption like a raging fire, American overseas anti-corruption to China officials sounded the alarm. With J. P. Morgan leaked by the media because of the employment of domestic officials children encounter USA law enforcement investigation, a lawyer is expected there will be more America "caused a similar investigation in Chinese official international top investment banks work in children".

American lawyer who declined to be named, told "Chinese business newspaper (micro-blog)" reporter: "America overseas anti-corruption chief law enforcement agencies in the American sec and the Justice Department, mainly dealing with overseas bribery and accounting related cases. However, each time the survey is not weakness lends wings to rumours., often because some people report will start."

More noteworthy is, "once the respondents showed similar behavior with the industry at the time of the survey, American SEC will and of the same type, the same industry and the company adopt the same mode or use the same agents of the company conducted a survey." That is to say, if JP Morgan under investigation indicates that the problem is a common phenomenon in the industry, so more investigation in international investment banking officials at home children may encounter this kind of dominant or recessive.

There are signs, consistent with the more and more China enterprises "going out" trend, more and more children chose officials working in a more international and open financial industry, including funds, investment banks, international consulting institutions.

Thus, these officials children qualifications meet the employment requirements, whether the employers to bring business and related interest transfer behavior has become the focus of the investigation. In the out of focus, USA overseas anti-corruption depth and breadth of domestic relevant personage also worth attention, don't touch America legal bottom line, at the same time, even if there is no problem, but also to avoid causing unnecessary investigations.

A new breakthrough point

Served in the American sec enforcement of Grime USA lawyer told reporters: "the application object America overseas anti-corruption law not only in American Mainland Company set up and these companies in overseas subsidiaries, including China (or other countries) enterprises in the USA listing Corporation employees, and the company, and the three company such as law firms, accounting firms, financing or public institutions and agencies, suppliers, etc.."

He further explained to reporters: "this also means that, even if an enterprise is a Chinese enterprises, but it has been in USA listed, FCPA (" Foreign Corrupt Practices Act "'overseas anti-corruption law') will have oversight over it, will be restricted, which makes corruption occurs in Chinese."

In fact, not only that, American overseas anti-corruption involves far-reaching than we imagine, "sometimes, even if the enterprise does not in American listed, but if the corruption behavior decision or payment behavior occurred in the USA territory, or have a certain relationship with America territory (such as email, banking system), will also be investigated. Investigation of listed companies should accept USA sec, accepting the Department of justice investigation. The non-listed company will only be the Justice Department investigation."

The JP Morgan suffered the investigation case is a microcosm of American many overseas anti-corruption case, with America overseas anti-corruption efforts continue to strengthen, many third party Multi-National Corporation or listing Corporation in the United States services such as law firms, accounting firms, investment banks, consulting agencies may have suffered a similar survey.

Of course, there are international legal personage analysis thinks, "focus American overseas anti-corruption focus is the Multi-National Corporation offer bribes to officials at home problems, while the JP Morgan case could be a starting point, through the survey of employment in China officials as clues, find more bribery or corruption cases."

American overseas anti-corruption bill passed in 1977, in the past twenty or thirty years, the law enforcement power is limited, the investigation of cases anti-corruption overseas limited in number, but in the recent ten years, American gradually strengthened the power, to give more support in funds and manpower, the SEC is directly on its website that is the overseas anti-corruption law enforcement is very important.

Look at the USA sec enforcement actions in recent years, in 2008 16 cases, 13 cases in 2010 2009, 16 cases, 20 cases in 2012 2011, 15 cases, not including the Ministry of justice of the non-listed company law enforcement cases.

There is a need to explain, ten cases a year does not represent America law enforcement is investigating the dozen be punished, as mentioned before, many with industry "rules" or "unspoken rule" behavior often leads to an industry survey, this also means that America overseas anti-corruption law enforcement American: the SEC and the Department of justice has accumulated significant data.

The message shows, with USA revive manufacturing determination, further strengthen in the financial field of discourse, and wrestle with China in these areas, USA overseas anti-corruption determination may also be transferred to these areas.

Not only that, before long, America sec announced the introduction of data mining technology, endow the functions of relevant departments, to discover illegal case more, it makes some employees clue is more conducive to the law enforcement behavior breakthrough.

As JP in the case of Morgan, once JP Morgan reflect the universal behavior in this employment China officials children belongs to the international investment bank in China in an investigation in the process of law enforcement, USA possibly industry wide investigation, namely, sent out questionnaires to the whole industry.

"This kind of cluster survey is very easy to find new problems, because USA enterprises generally think relative to the Justice Department investigation problems, active report will win the initiative for the enterprise and the lighter punishment. The lucent case and Morocco case is a typical case, this two years FCPA the case increase, the increase in the number of reports and American enterprises also take the initiative." Grime said.

In addition, if USA sec or the Department of justice found that this is a very good path to law enforcement, this employment clue is likely to be applicable to other industries in China, including those of third parties, such as law firms, law firms in the domestic some children as a Multi-National Corporation engaged in official business or to obtain the corresponding opportunities and so on, are likely to become the object of investigation.

FCPA officials on a broadly defined

FCPA includes three key content, the first is the anti-corruption clause, which prohibits the enterprise to obtain or maintain the current contract or business / potential relationship, to government officials American outside of authorized, or give anything of value, including goods, services or benefits etc.. Second and third are relevant records and internal control, but the anti-corruption is an important content of FCPA act.

While in the anti-corruption clause, FCPA bill for definition of government officials is very broad, Grime has stressed to reporters said: "in the Chinese by government officials, the attention of the FCPA, not only in government service personnel, is also included in the enterprise state-owned utilities to hold the corresponding authority personnel."

Notable is, in the JP Morgan was investigating the case, become the media focus of the China Everbright Group Chairman Tang Shuangning, ever the CBRC vice chairman, but currently employed is state-owned enterprises, has also become a direction under investigation.

According to media reports, USA sec (SEC) anti bribery departments in May of this year for J. P. Morgan chase Tang Shuangning's son Tang Xiaoning (transliteration) and Zhang Xixi (transliteration) and the relevant documents, in Zhang Xixi (transliteration) case, SEC Morgan chase submission "to identify and hire her decision of all persons concerned."

At the same time, the law enforcement departments have investigated two turnover with the company after the communication records, to investigate whether there are some behind the employment relationship benefit transportation behavior, in view of JP Morgan and the China Everbright Group some business relationship is not over yet, this investigation is likely to continue to, or to the end of reconciliation.

According to the "New York Times" reports, "the confidential document did not explicitly JP Morgan's employment and obtain the services of the link, did not put forward the involved employees quality problem, there is no evidence that these employees help JP Morgan received the relevant business."

This suggests that JP Morgan is likely to reach a settlement with the SEC, America, reconciliation is often an important case FCPA law enforcement, but to obtain the settlement, JP Morgan to take the initiative to disclose more information to law enforcement agencies, also received a certain amount of fines, in fine, bribery case law enforcement agencies will be illegal income the confiscation of all enterprises. Of course, JP Morgan also insisted on not the claim, but to provide sufficient evidence.

In any case, JP Morgan case has sounded the alarm for Chinese officials, how to avoid becoming the object of law enforcement America FCPA, is likely to become an important problem about the China senior officials next.

(Chinese business newspaper)

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