HSBC to pay over $100M to settle currency rigging probe
LONDON/NEW YORK (UPI) -- Europe's biggest bank has agreed to pay about $100 million in penalties to resolve a U.S. Justice Department investigation. The deal stems from a probe into HSBC Holdings PLC rigging currency rates, an investigation that led to the conviction of one of its former bankers. The scheme, which involved bankers executing trades that drove up costs for two large corporate clients, netted the bank more than $46 million in profits in 2010 and 2011. John Cronan, acting assistant attorney […]
