HSBC Confirms US Senate Panel Probe

Law360, New York (January 25, 2012, 6:47 PM EST) -- U.K.-based banking giant HSBC Holdings PLC is the target of U.S. Senate investigation related to money laundering, the company confirmed Wednesday.

An HSBC spokesman confirmed the inquiry by the Senate Permanent Subcommittee on Investigations, which was also addressed in a regulatory filing with the U.S. Securities and Exchange Commission in November.

“We have ongoing discussions with officials including the PSI on a number of regulatory and compliance matters, and that's stated in our SEC filings,” the spokesman said. “The nature of those discussions is confidential and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.