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Fed bars ex-JPMorgan subsidiary exec over referral hiring scheme

Timothy Fletcher was the head of the programme for the Asia-Pacific investment bank unit

The Federal Reserve Board has permanently barred a former managing director of a JPMorgan subsidiary from the banking industry over his involvement in a referral hiring programme that the board says violated US antibribery law.

Timothy Fletcher oversaw a programme at JPMorgan’s Asia-Pacific region investment bank that offered internships or other employment opportunities.

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