HSBC Latest To Be Ensnared By Global Forex Probe

Law360, New York (November 4, 2013, 2:37 PM EST) -- HSBC Holdings PLC on Monday became the latest international bank to confirm that it was cooperating with global investigators probing allegations of manipulation of foreign exchange trading.

The British bank said in an interim management statement accompanying its third quarter 2013 earnings statement that the U.K. Financial Conduct Authority "is conducting investigations alongside several other agencies in various countries into a number of firms, including HSBC, relating to trading on the foreign exchange market.”

“We are cooperating with the investigations, which are at an early stage,”...
To view the full article, register now.