China Hiring Probe Adding to JP Morgan Woes

Adding to the list of ongoing investigations against the firm, the Securities and Exchange Commission this week said it has launched a federal bribery probe into whether JP Morgan Chase & Co. hired the children of high-ranking Chinese officials to boost business there. The inquiry adds to an onslaught of legal and regulatory headaches for JP Morgan Chief Executive Jamie Dimon, who may see his firm spend up to $2 billion in litigation costs in each of the next two quarters.