Violation Tracker Individual Record

Company: 
HSBC North America Holdings Inc.
Current Parent Company: 
HSBC
Penalty: 
$550,000,000
Year: 
2014
Date: 
September 12, 2014
Primary Offense: 
toxic securities abuses
Violation Description: 

The Federal Housing Finance Agency announced a settlement of $550 million with HSBC North America Holdings Inc. resolving alleged violations of federal, Virginia and District of Columbia securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Federal Housing Finance Agency
Civil or Criminal Case: 
civil
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.