Search Results for: HSBC

Two top HSBC currency traders charged in forex probe

July 21st, 2016 (0)
A top HSBC executive has been charged with fraud in the US. Mark Johnson, HSBC’s global head of foreign exchange trading was arrested on Tuesday night. A former colleague, Stuart Scott, has also been charged. The two traders are ...

HSBC to pay $1.575 billion, ending Household International class action

June 17th, 2016 (0)
A unit of HSBC Holdings Plc (HSBA.L) said on Thursday it will pay $1.575 billion to end a 14-year-old shareholder class action lawsuit stemming from the Household International consumer finance business that the British bank bought in 2003. HSBC ...

ASIC accepts enforceable undertaking from HSBC Bank Australia

May 17th, 2016 (0)
ASIC has accepted an enforceable undertaking (EU) from HSBC Bank Australia Ltd (HSBC) that requires HSBC to review and remediate clients who received potentially deficient advice on retail structured products between January 2009 and March 2013. The EU follows ...

HSBC, RBS and Barclays plan to close 400 branches

April 7th, 2016 (0)
Three of Britain’s largest banks are planning to close about 400 branches this year, according to people familiar with the situation, a new programme of closures that could leave thousands of customers without easy access to a bank. The ...

Credit Suisse, HSBC dismiss ‘Panama Papers’ tax avoidance allegations

April 6th, 2016 (0)
Credit Suisse and HSBC, two of the world’s largest wealth managers, dismissed on Tuesday suggestions they were actively using offshore structures to help clients cheat on their taxes. Their comments came a day after a leak of four decades ...

UBS, HSBC Offshore Dealings Thrust Into Panama Papers Spotlight

April 5th, 2016 (0)
Report describes UBS’s dealings with law firm Mossack Fonseca Both banks say they comply with laws for vetting customers UBS Group AG and HSBC Holdings Plc — two of the banks hardest hit amid a U.S. crackdown on customers’ illicit ...

HSBC comes up short in money laundering vigilance, U.S. says

April 4th, 2016 (0)
HSBC Holdings Plc has not done enough to thwart money laundering, despite making significant progress since reaching a landmark 2012 anti-money-laundering settlement with U.S. prosecutors, a federal monitor has found. The monitor “remains unable to certify that the bank’s ...

Iranian Miniskirts, Bags of Cash Raise Doubts Over Controls at HSBC

March 30th, 2016 (0)
Monitor finds lapses in bank’s efforts to prevent money laundering and evasion of sanctions following 2012 settlement with Justice Department The monitor overseeing HSBC’s compliance with a landmark anti-money-laundering settlement has uncovered a range of potential lapses including loans ...

HSBC reports on Oil prices scenarios

March 24th, 2016 (0)
Despite hopes that lower oil prices will stabilise global growth, experience suggests otherwise. Growth was disappointing in 2015 even though the oil price had plunged in 2014. While developed-world consumer spending grew at the fastest rate since before the ...

Italian police open money laundering investigation of broker linked to HSBC

March 23rd, 2016 (0)
An Italian financial broker who worked on behalf of HSBC in the Swiss town of Lugano is under investigation for possible money laundering in a probe linked to a wider tax evasion case, an Italian finance police colonel told ...
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