UK bank resolves federal fraud charges in the US over a practice known as front-running

Reporter

HSBC has agreed to pay $101.5m to resolve federal fraud charges stemming from the bank’s misuse of confidential client information for its own profit, a practice commonly known as front-running, 

In documents filed Thursday in Brooklyn federal court, HSBC admitted to using confidential information in two instances for its own profit.

HSBC to pay $101m after admitting to misuse of client information

Maria Armental

Cairn Energy

HSBC

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