HSBC pays $101 million in U.S. criminal penalties for front-running clients
Richard L. Cassin
January 19, 2018
HSBC Holdings Plc agreed Thursday to pay $101.5 million to resolve a DOJ criminal investigation into rigged currency transactions that hurt two of its institutional clients.
The UK-based bank entered into a three-year deferred prosecution agreement (pdf) with the DOJ and agreed to pay a $63.1 million criminal fine and $38.4 million in disgorgement and restitution.… Continue Reading