The Fed imposed a fine of $ 175 million to HSBC

The Fed imposed a fine of $ 175 million to HSBC

The Fed imposed a fine of $ 175 million to HSBC

September 29 (Reuters) – The u.s. federal Reserve has imposed on Friday a fine of $ 175 million to HSBC (148 million euros) for “practices that are risky and questionable” on the foreign exchange market, the latest in a series of fines imposed on banks for being unable to prevent the manipulation of the currency market.

“The commission has imposed the fine for deficiency of the system of monitoring and control of the forex traders to HSBC,” said the Fed in a press release.

The fine follows other penalties, a total of more than $ 4.3 billion, the Commodity Futures Trading Commission of the u.s. and the Financial Conduct british, imposed on six banks, including HSBC, in November 2014.

“We are glad to have settled this matter,” said to Reuters, a spokesman for HSBC in London.