Federal prosecutors and regulators say the bank gave jobs and internships to "unqualified" children of Chinese government officials.
The settlement ends a three-year investigation into JPMorgan and marks one of the first major crackdowns on a big U.S. bank for running afoul of the Foreign Corrupt Practices Act.
Known as the FCPA, the law prohibits companies from making payments or giving "anything of value" to win business from foreign officials.
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