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Violation Tracker Individual Record

Company: HSBC
Current Parent Company: HSBC
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $7,000,000
Year: 2020
Date: September 24, 2020
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Violation Description: The California Attorney General announced a $7 million settlement involving multinational bank and financial services company HSBC for overcharging the California Public Employees Retirement System (CalPERS) in foreign currency trading.
Level of Government: state
Action Type: agency action
Agency: California Attorney General
Civil or Criminal Case: civil
Facility State: California
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.