Violation Tracker Individual Record
Company:
HSBC Holdings plc
Current Parent Company:
HSBC
Penalty:
$100,000,000
Year:
2018
Date:
January 18, 2018
Offense Group:
competition-related offenses
Primary Offense:
fraud
Violation Description:
HSBC Holdings plc entered into a deferred prosecution agreement and agreed to pay a $63.1 million criminal penalty and $38.4 million in disgorgement and restitution to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as front-running.
Level of Government:
federal
Action Type:
agency action
Agency:
Justice Department Criminal Division
Civil or Criminal Case:
civil and criminal
Prosecution Agreement:
deferred prosecution agreement
HQ Country of Parent:
United Kingdom
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Source of Data:
https://www.justice.gov/opa/pr/hsbc-holdings-plc-agrees-pay-more-100-million-resolve-fraud-charges (archived copy)
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
