Thursday, July 3, 2025

HSBC Agrees to Pay $75 Million Fine Related to Deceptive Trading Practices and Record-Keeping Failures

Several of HSBC’s units agreed to settle charges brought by the Commodity Futures Trading Commission over engaging in manipulative and deceptive trading practices and failing to maintain adequate record-keeping controls.

The CFTC on Friday announced HSBC Bank USA agreed to a $45 million civil fine after engaging in deceptive and manipulative trading related to record-keeping failures, swaps, and spoofing. Meanwhile, along with the bank’s US unit, HSBC Bank Plc and HSBC Securities are also settling a $30 million fine after admitting to supervision and record-keeping violations, regulators announced in a separate statement.

Although HSBC didn’t admit to any wrongdoing, CFTC regulators discovered the financial institution committed the alleged violations between March 2012 and July 2020. The bank was also slapped with a separate $15 million fine after the SEC discovered employees and upper management were using “off-channel” messaging platforms such as WhatsApp to discuss business matters whilst failing to maintain adequate record-keeping controls.


Information for this briefing was found via the CFTC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

RBC: Canaccord Reiterates Ratings Following HSBC Canada Purchase

On Tuesday, Royal Bank of Canada (TSX: RY) announced that it would purchase HSBC’s Canadian...

Thursday, December 1, 2022, 07:27:00 AM

HSBC Completes $10B Sale of Canadian Unit to Royal Bank of Canada

HSBC Holdings (LON: HSBA) announced quietly late last week that it has completed the C$13.5...

Monday, April 1, 2024, 05:02:00 PM

Royal Bank To Acquire HSBC Canada For $13.5 Billion In All-Cash Deal

The banking sector in Canada is set to get a bit more narrow for Canadians....

Tuesday, November 29, 2022, 08:14:17 AM

BitMEX Agrees to Pay $100M Settlement With FinCEN, CFTC Over Bank Secrecy Act Violations

BitMEX has agreed to reach a $100 million settlement with two US government agencies, that...

Wednesday, August 11, 2021, 10:52:00 AM

Texas Adds HSBC to Energy Sanctions List

British multinational bank HSBC (LON: HSBA) has been added to Texas’ energy sanctions list, Comptroller...

Thursday, March 23, 2023, 04:03:00 PM