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HSBC

Your Daily Dose of Financial News

by Robins Kaplan LLP on

It was a busy Thursday in the big pharma world, with drugmaker Shire rejecting a $60 billion takeover offer from Japan’s Takeda, while US rival Allergan disclosed that it was considering a bid of its own for Shire....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Some analysis of Friday’s less-than-booming jobs report – NYTimes and Bloomberg And a look at Fed Chair Powell’s first major remarks on the state of the economy and the potential effects a trade war would have on the Fed’s...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The White House’s protectionist plan to impose roughly $60 billion in annual tariffs on Chinese imports went over like a lead balloon on Wall Street, sparking fears of a trade war, increased volatility, and unintended ripple...more

White Collar Crime Alert -The French Prosecutor Office has Entered into the First French DPAs for Corruption Charges

On Feb. 23, 2018, a couple of months after the first French DPA (“CJIP - convention judiciaire d’intérêt public”) in history was entered into between the French prosecutor office and HSBC Private Bank Suisse in relation to...more

Real Property, Financial Services, & Title Insurance Update: Week Ending March 2, 2018

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: borrower's standing arguments failed because they were based on notion that note changed hands after it was delivered to World Savings Bank in 2007, when in fact the note...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

On Monday, UPS revealed that in December it sued European antitrust regulators over a 5-year-old decision that blocked the delivery company’s takeover of the Netherlands’ TNT Express. UPS is seeking more than $2 billion in...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Walmart’s shares took a hit yesterday on Q4 results that showed slowing online sales and below-expected earnings despite a rise in revenue....more

Real Property, Financial Services, & Title Insurance Update: Week Ending February 9, 2018

by Carlton Fields on

Misrepresentation/Concealment: genuine issues of material fact remained in dispute regarding whether board-certified real estate attorney committed fraudulent or negligent misrepresentation or concealment by falsely assuring...more

Orrick's Financial Industry Week In Review

CFTC Files Eight Anti-Spoofing Enforcement Actions against Three Banks (Deutsche Bank, HSBC & UBS) & Six Individuals - On January 29, 2018, the Commodity Futures Trading Commission ("CFTC"), along with the Department of...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Markets proved that last Friday’s 600-point Dow drop wasn’t an isolated incident, as all major US indices were down nearly 4% (at least) in a nasty Monday of trading....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A look at the big-time Wells Fargo/Fed settlement of last Friday night, which saw the Fed blasting the bank’s board for oversight failures, forcing Wells to replace a full fourth of its 16-member Board, and instituting a rare...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Coffee pod powerhouse Keurig Green Mountain is expanding its empire (and that of its parent JAB Holding Company) with the announcement of a $18.7 billion deal for the Dr Pepper Snapple Group. If approved by shareholders and...more

DOJ, CFTC File Series of Criminal And Civil Spoofing Cases

by Dorsey & Whitney LLP on

The Department of Justice filed six criminal spoofing cases, its largest criminal futures market case. The Commodity Futures Trading Commission simultaneously announced eight spoofing case, five of which parallel the DOJ...more

HSBC Enters Into Deferred Prosecution Agreement To Settle Charges Arising From Traders' Alleged FX Front-Running

by Shearman & Sterling LLP on

On January 18, 2018, HSBC Holdings Plc (“HSBC”) entered into a deferred prosecution agreement with the Department of Justice, Criminal Division, Fraud Section (“DOJ”) pursuant to which it will pay $101.5 million in criminal...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

NYSE owner Intercontinental Exchange is looking to do the as-yet inconceivable: bring some order to cryptocurrencies. The plan, announced yesterday, is to launch a data feed that pull info from cryptocurrency exchanges around...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Dow closed above 26k yesterday for the first time on what some are dubbing the FOMO rally or the “melt-up” market....more

The French Prosecutor Office Has Entered Into the First French DPA in History With HSBC Private Bank Suisse

On Nov. 14, 2017, six months after the so-called Sapin II law1 entered into force in France, the president of the Paris Tribunal de grande instance approved the first French deferred prosecution agreement (DPA or CJIP...more

The Sapin II Act: New Perspectives on Cross-Border Investigations

On November 30, 2017, the Institut des Hautes Etudes sur la Justice (IHEJ) and Skadden hosted a roundtable at the Cercle de l’Union Interalliée in Paris to discuss new perspectives on the Sapin II Act and cross-border...more

New York Court Of Appeals Dismisses Contractual Claims Against Nomura In Four RMBS Suits

by Shearman & Sterling LLP on

On December 12, 2017, the New York Court of Appeals dismissed certain breach of contract claims brought by HSBC Bank USA, N.A. (“HSBC”) against Nomura Credit & Capital, Inc. (“Nomura”), in four separate actions related to...more

This Week in FCPA-Episode 80, The Last Jedi Edition

by Thomas Fox on

Jay and I return for a wide-ranging discussion on some of the top compliance- and ethics-related stories of the week, including: 1. There are several FCPA 40th anniversary pieces going up these days. The FCPA Blog is looking...more

Orrick's Financial Industry Week In Review

FRB Requests Public Comment on Proposal to Amend Regulation A - On December 4, 2017, the Federal Reserve Board ("FRB") requested public comment on a proposal to amend Regulation A to make certain technical adjustments,...more

Star Wars Week: Part III – Return of the Jedi – A good final result

by Thomas Fox on

While I am not sure how much celebrating HSBC might be doing this week, they should have pride in making it through the five-year DPA. The bank worked very hard to overcome its miss-steps and hopefully it will continue to do...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

HSBC announced yesterday that, 5 years after its controversial deferred prosecution agreement with the DOJ following the Swiss bank’s 2012 $1.9 billion payment over money-laundering allegations, it’ll be released from those...more

France Announces Its First Deferred Prosecution Agreement

In a move that could signal a new phase of government enforcement in France, on November 27, 2017, French authorities published a Convention judiciaire d’intérêt public (CJIP) with HSBC Private Bank Suisse SA (HSBC PB), the...more

The World In U.S. Courts - Fall 2017

FSIA Does Not Exempt US Bank from Subpoena for Production of Records of Accounts Maintained by Central Bank of Nigeria - The World in U.S. Courts: Fall 2017 - Foreign Sovereign Immunity Act (FSIA)/Political Question Doctrine....more

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