HSBC: US settlement relating to FX trading business
(CercleFinance.com) - HSBC has agreed to pay 101.
5 million dollars to settle a US Department of Justice's investigation into its foreign exchange sales and trading activities in 2010 and 2011, the British bank said on Friday.
The three-year deferred prosecution agreement with the DoJ reflects a 15% reduction in the amount of the fine, in recognition of HSBC's cooperation during the investigation, it said.
The payment has already been fully disclosed by HSBC in its 2016 accounts and 2017 first-half results.
This agreement follows similar settlements relating to HSBC's FX trading business with the UK Financial Conduct Authority, the US Commodity Futures Trading Commission, and the US Federal Reserves.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 million dollars to settle a US Department of Justice's investigation into its foreign exchange sales and trading activities in 2010 and 2011, the British bank said on Friday.
The three-year deferred prosecution agreement with the DoJ reflects a 15% reduction in the amount of the fine, in recognition of HSBC's cooperation during the investigation, it said.
The payment has already been fully disclosed by HSBC in its 2016 accounts and 2017 first-half results.
This agreement follows similar settlements relating to HSBC's FX trading business with the UK Financial Conduct Authority, the US Commodity Futures Trading Commission, and the US Federal Reserves.
Copyright (c) 2018 CercleFinance.com. All rights reserved.