Citigroup Focus Of Federal Probe Into Foreign Hiring Practices

Citigroup Inc. said late Friday that federal officials have launched a probe into the bank's foreign hiring practices, according to a Securities and Exchange Commission filing. "Government and regulatory agencies in the U.S., including the SEC, are conducting investigations or making inquiries concerning compliance with the Foreign Corrupt Practices Act and other laws with respect to the hiring of candidates referred by or related to foreign government officials," Citigroup said in the filing. The bank said it is cooperating with investigators. Back in November, J.P. Morgan Chase & Co. paid $264 million to settle charges related to its hiring practices in Asia. Citi shares were unchanged at $59.56 after hours.