LONDON—Barclays PLC on Tuesday became the latest bank to disclose that U.S. authorities are investigating its hiring practices in Asia, part of a wider probe into banks’ recruitment of friends and family members of government officials and top executives in the region. In its latest annual report, the British bank said it is cooperating with the Securities and Exchange Commission and the Justice Department in “an investigation into certain of its hiring practices in Asia.” ...
Barclays is the latest bank to be investigated by US authorities over its hiring practices in Asia, as part of a wider probe into bank's recruitment of friends, family members of parliament officials and top executives in the region. Barclays has said it is cooperating with the US Securities and Exchange Commission (SEC) and the Justice Department regarding the investigation. As we noted last month, HSBC is also being investigated over hiring people linked to Asian governments, an issue that has also plagued US lenders such as JP Morgan Chase.