Violation Tracker Individual Record

Company: 
HSBC Holdings plc
Current Parent Company: 
HSBC
Penalty: 
$100,000,000
Year: 
2018
Date: 
January 18, 2018
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: 
Britain
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
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.