HSBC to Pay $100 Million to End U.S. Currency-Rigging Probe

Bloomberg ---------- HSBC Holdings Plc has agreed to pay about $100 million in penalties to resolve a U.S. Justice Department investigation into the rigging of currency rates, part of a probe that has already led to the conviction of one of its former bankers and charges against another. As part of the deal, HSBC entered into a deferred-prosecution agreement with prosecutors and promised to help with the criminal case against former traders and any other individuals swept up in the matter. A DPA document, which must be approved by a judge, was filed in federal court in Brooklyn on Thursday. The three-year agreement requires the bank to cooperate with ongoing currency probes and “any other conduct under investigation” by the U.S. To learn more click on the picture below to read the article.