[ET Net News Agency, 19 January 2018] HSBC Holdings (00005) said it has entered into a
three-year deferred prosecution agreement with the US Department of Justice (DoJ) to
resolve the DoJ's investigation into HSBC's historical foreign exchange sales and trading
activities within its Global Markets business.
Under the agreement, HSBC will pay a total of US$101.5 million, including a US$63.1
million fine and US$38.4 million in restitution. The payment reflects a 15% reduction in
the fine amount in recognition of HSBC's cooperation during the investigation and its
extensive remediation.
HSBC has also agreed to take additional steps to enhance its Global Markets compliance
programme and internal controls and agreed to cooperate fully with regulatory and law
enforcement authorities. (HL)