OREANDA-NEWS. March 13, 2017. The Federal Reserve Board announced on Friday it will seek to fine and prohibit Fang Fang and Timothy Fletcher, two former managing directors at J.P. Morgan Securities (Asia Pacific) Limited, from working in the banking industry for their participation in a referral hiring program that violated anti-bribery law.  

Fang and Fletcher are alleged to have offered internships and other employment opportunities to individuals referred by foreign officials, clients, and prospective clients in order to obtain improper business advantages in violation of firm policies and U.S. anti-bribery law. 

In addition to permanently prohibiting them from the banking industry, the Board seeks to impose a $1 million fine against Fang and a $500,000 fine against Fletcher.