HSBC Private Bank Pays $12.5 Million for Providing Unregistered Services to U.S. Clients
HSBC’s Swiss-based private banking arm agreed today to pay $12.5 million to Securities and Exchange Commission for violating federal securities laws by failing to register with the SEC before providing cross-border brokerage and investment advisory services to U.S. clients. “HSBC Private Bank’s efforts to prevent registration violations ultimately failed, because ...
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