{"id":5701,"date":"2014-11-25T00:00:00","date_gmt":"2014-11-25T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/11\/hsbc_to_pay_125m_settlement_to_1"},"modified":"2014-11-25T00:00:00","modified_gmt":"2014-11-25T06:00:00","slug":"hsbc-to-pay-125m-settlement-to-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hsbc-to-pay-125m-settlement-to-1\/","title":{"rendered":"HSBC to Pay $12.5M Settlement to SEC Over Charges That It Violated Securities Laws"},"content":{"rendered":"\n

The Securities and Exchange Commission is charging HSBC Private Bank (HSBC) with violating U.S. federal securities laws. According to the regulator, the Swiss private banking arm did not register with the agency before providing clients in this country with cross-border brokerage and investment advisory services.<\/p>\n

HSBC Private Bank as agreed to pay $12.5 million to resolve the SEC\u2019s charges. It is also admitting to wrongdoing.<\/p>\n

According to the SEC order over the settled administrative proceedings, the private banking arm and its predecessors started providing the services at issue over 10 years ago, growing its clients base to up to 368 U.S. accounts while collecting about $5.7 million in fees. Banking personnel came to this country over three dozen times to solicit clients, offer advice, and fulfill securities transactions. The managers who completed these tasks were not registered to provide these services nor were they affiliated with a registered brokerage firm or investment adviser. These managers also communicated via e-mail and postal mail with clients in the U.S.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission is charging HSBC Private Bank (HSBC) with violating U.S. federal securities laws. According to the regulator, the Swiss private banking arm did not register with the agency before providing clients in this country with cross-border brokerage and investment advisory services. HSBC Private Bank as agreed to pay $12.5 million to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752],"tags":[2817],"class_list":["post-5701","post","type-post","status-publish","format-standard","hentry","category-financial-firms","tag-hsbc"],"yoast_head":"\nHSBC to Pay $12.5M Settlement to SEC Over Charges That It Violated Securities Laws — Investor Lawyers Blog — November 25, 2014<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission is charging HSBC Private Bank (HSBC) with violating U.S. federal securities laws. 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