HSBC to Pay $12.5 Million Over Private Bank Violation, SEC Says
Nov. 25 (Bloomberg) — HSBC Holdings Plc agreed to pay $12.5 million to settle Securities and Exchange Commission claims its private-banking unit solicited U.S. investors without being properly registered.
The settlement was announced in an SEC statement today.
To contact the reporter on this story: David McLaughlin in Washington at dmclaughlin9@bloomberg.net
To contact the editor responsible for this story: Joshua Gallu at jgallu@bloomberg.net
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