HSBC Holdings today agreed to pay $101.5 million to settle a U.S. criminal probe into the rigging of currency transactions, which has already led the conviction of one of its former bankers.
The payment includes a $63.1 million fine plus $38.4 million in restitution to a corporate client, according to a deferred prosecution agreement filed today with the U.S. District Court in Brooklyn, New York.
In the settlement with the U.S. Department of Justice, HSBC also agreed to bolster its internal controls, and admitted and accepted responsibility for wrongdoing underlying two criminal wire fraud charges filed today against the bank, according to the agreement.
Deferred prosecution agreements let companies avoid criminal charges so long as they comply with the terms. ...
... For the remainder of the report:
https://www.reuters.com/article/us-hsbc-settl...ay-100-milli...