ECU Group Accuses HSBC of Fraud and Misconduct Made on Its FX Trading Desk

Currency manager ECU Group has accused the multinational investment bank HSBC of fraud and misconduct within its foreign exchange (forex) trading desk between 2004 and 2006. According to a report published by the Financial Times, quoting a hearing at the UK High Court on Monday, an alleged “rotten culture” between such a period allowed bankers to misuse confidential data.
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Ottawa Hires HSBC And TD To Manage $5 Billion Green Bond Sale

Advertisment The federal government in Ottawa has hired HSBC Holdings and Toronto-Dominion Bank (TSX:TD) to manage its inaugural sale of green bonds. The banks will advise on the design of Canada’s green bond framework, assist in the development of an ongoing program, and support the debut. Ottawa is aiming to raise $5 billion through the sale and joins other nations such as England and Germany in pursuing environmentally friendly debt issuance.
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Loch Duart scales up production with HSBC backing

Scottish salmon business Loch Duart has purchased a new feeding barge to increase production after securing a six-figure asset financing deal from multinational banking organization HSBC UK. Intended as a less labor-intensive means of delivering feed to the producer’s salmon, the vessel has been put at Loch Duart’s largest production...
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Cerberus' purchase of HSBC's French unit could foreshadow more PE-bank deals

Cerberus Capital Management LP played a major role in relieving European banks of bad debt portfolios and underperforming assets in the years following the global financial crisis, and the private equity group's reported interest in HSBC Holdings PLC's French retail banking arm could be a precursor to more deals involving buyout firms in the near future, industry experts said.

HSBC, TD to advise feds on green bond issuance

The federal Department of Finance has chosen Toronto-Dominion Bank and HSBC Bank Canada as the structuring advisors for its first green bond issuance. The Liberal government said in the 2021 federal budget that it aims to raise $5 billion for green infrastructure investment with a green bond planned to hit the market later this year. This would be the “first of many green bond issuances,” the budget said.
Fraud CrimesInvestopedia

HSBC's Money Laundering Scandal

HSBC Holdings' (HSBC) agreement to pay a $1.9 billion fine to regulators for serving as a middleman for Mexican drug cartels and enter into a deferred prosecution agreement points to a lack of adequate control processes in compliance and anti-money laundering. Given the bank's size, it appears that it and some of its peers are too big to jail because they are too big to fail.

INDOS Financial appoints new head of AML services

INDOS Financial has hired Clay Dupuy as head of anti-money laundering (AML) services, based in Enniscorthy, Ireland. Dupuy will lead INDOS Financial’s outsourced AML officer team with responsibility for the team which provides AML officers to funds domiciled in the Cayman Islands, Ireland and Luxembourg. The INDOS outsourced AML officer...

Bangladesh stocks hold 'hidden gems' for investors, HSBC says

Bangladesh has two stock exchanges — Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange. The country's top 30 listed companies by market capitalization and liquidity are on the DS30 index, which is up more than 65% over a 12-month period. HSBC's Devendra Joshi explained that the Bangladeshi economy is...

Former HSBC M&A GC Returns to Private Practice

HSBC’s former general counsel for its M&A group, Chris Thornes, has joined Norton Rose Fulbright in London after seven years in-house. He joins the firm as a consultant in the firm’s corporate and M&A practice. Thornes first joined HSBC in 2013 from Allen & Overy where he spent 19 years, including 10 as a partner in London.
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HSBC Eyes Biz Banking Innovation With Developer Portal

HSBC has rolled out an application programming interface (API) developer portal that lets programmers and clients locate the APIs that match their business requirements, get a hold of technical paperwork and pilot APIs in the test environment, according to an announcement on Monday (June 7). “APIs are the future of...

Samsonite International (OTCMKTS:SMSEY) Lifted to Buy at HSBC

OTCMKTS SMSEY opened at $11.61 on Monday. The business’s 50-day moving average is $9.38. Samsonite International has a 1 year low of $4.47 and a 1 year high of $11.92. Samsonite International SA engages in the design, manufacture, sourcing, and distribution of travel luggage bags worldwide. It offers luggage, business, computer, outdoor, casual, and women's bags; and travel accessories and slim protective cases for personal electronic devices primarily under the Samsonite, Tumi, American Tourister, Speck, High Sierra, Gregory, Lipault, Kamiliant, Hartmann, and eBags brands, as well as other owned and licensed brand names.