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Violation Tracker Individual Record

Company: HSBC Bank USA, N.A.
Current Parent Company: HSBC
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $10,500,000
Year: 2007
Date: September 19, 2007
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: HSBC Bank USA, N.A. agreed to pay a $10 million civil penalty and approximately $500,000 in disgorgement to settle allegations that it improperly allowed its name and logo to be used in connection with a Florida-based offering fraud by Pension Fund of America, L.C. that was directed primarily at Central and South American investors.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.