On February 14, Credit Suisse announced it was under investigation in the United States over its hiring practices in the Asia Pacific region. In particular, Credit Suisse said it has been responding to requests from the DOJ and the SEC regarding whether it hired referrals from government agencies and other state-owned entities in exchange for investment banking business and/or regulatory approvals – which could constitute a potential violation of the FCPA –.
Credit Suisse said it was cooperating with the authorities on this matter. JP Morgan was already sentenced to a USD 264 million fine in November 2016 for similar hiring practices. Other banks, including HSBC, have also been contacted by US authorities regarding the same matter.