Violation Tracker Individual Record

Company: 
HSBC Private Bank (Suisse)
Current Parent Company: 
HSBC
Penalty: 
$12,500,000
Year: 
2014
Date: 
November 25, 2014
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

The Securities and Exchange Commission announced that HSBC's Swiss-based private banking arm settled allegations that it violated federal securities laws by failing to register with the SEC before providing cross-border brokerage and investment advisory services to U.S. clients.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
United Kingdom
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.