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Violation Tracker Individual Record

Company: HSBC HoldingsPLC
Current Parent Company: HSBC
Penalty: $155,333,333
Year: 2016
Date: April 18, 2016
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Mega-Scandal: Price Fixing
Violation Description: Twelve large banks agreed to pay more than $1.8 billion to settle litigation alleging they rigged the credit-default-swaps market. Court documents did not specify how much each company would pay. Here we assume they each paid an equal share of the total.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:13md2476
Case Name: In re: Credit Default Swaps Antitrust Litigation
Private Lawsuit Resolution Type: settlement
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)
Link to PACER Case Docket (must be logged in): (click here)
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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.