Joe being Joe.

Via NY Times:

The Securities and Exchange Commission has begun an investigation into whether some of Hollywood’s biggest movie studios have made illegal payments to officials in China to gain the right to film and show movies there, according to a person with knowledge of the investigation.

The inquiry creates a potential roadblock for the industry’s plans to expand in one of the world’s largest markets.

The S.E.C. investigation has so far focused on at least three studios, the person said, but all of the largest and some smaller studios have been contacted or made aware of the inquiry, according to the person, who has direct knowledge of the investigation but who spoke on the condition of anonymity because the matter could end up in court.

In the last year, both the S.E.C. and the Justice Department have increased investigations under the Foreign Corrupt Practices Act, known as F.C.P.A., which forbids American companies from making illegal payments to government officials or others to ease the way for operations in foreign countries. [...]

The discussions leading to the deal were conducted at a high level, as Vice President Joseph R. Biden Jr. joined Mr. Xi in personal negotiations. Given the level of diplomacy involved in reaching the agreement, the S.E.C. inquiry could be an embarrassment to the Obama administration.

Jeffrey Katzenberg, the DreamWorks Animation chief executive, and Robert A. Iger, Disney’s chief executive, also helped forge the agreement.

Keep reading…

Jeffrey Katzenberg is a top tier Obama bundler raising over $500K.