HSBC Holdings plc on Thursday said it was keen to study the opportunities available in the Indian insurance sector, including pension fund.
The potential settlement, which has been in the works for months, is emerging as a test case for just how big a signal US prosecutors want to send to try to halt illicit flows of money moving through US banks.
HSBC Mexico said it paid a 'fine imposed by the National Banking and Securities Commission (CNBV), amounting to MXN 379 million (about $27.5 million), in connection with non-compliance with anti-money laundering systems and controls, including reporting requirements with regard to unusual transactions, as well as other prudential regulations.'
The bank believes that that gold prices will recover this year and retain a pronounced bullish posture.
Cuts its 2013 price forecast to $1,760 an ounce from $1,850.
HSBC admitted to a breakdown of controls and apologised in a statement announcing it had reached a deferred-prosecution agreement with the US Department of Justice, as was first reported by Reuters last week.
According to HSBC's 'Climate Confidence Monitor', one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.
Global banking giant HSBC on Monday said Infosys chief mentor N R Narayana Murthy will join its board in May with an annual renumeration of 65,000 pounds (about Rs 52 lakh).
The chief operating officer of HSBC Holdings, A W Jebson informed that HSBC board would meet in Mumbai on November 25.
After investing $150 million this year, HSBC is willing to step up investments in India as it expects the economy to sustain over 7 per cent growth in the coming years.
Some other tax authorities are looking at the allegations.
Uruguayan soccer player Diego Forlan on Monday denied evading taxes by hiding money in Swiss accounts with the British bank HSBC Holdings PLC.
An estimated 10,000 to 20,000 jobs will be axed, according to a media report
Delaying action on climate change will hurt growth: Global CEOs.
HSBC's Swiss bank routinely allowed clients to withdraw "bricks" of cash
Swiss police in February searched HSBC offices in Geneva as part of its probe.
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