BBC News: HSBC in $765m deal with US regulator

BBC News, October 10, 2018: HSBC in $765m deal with US regulator

HSBC has reached a $765m (£582.3m) settlement in the US over its sale of mortgage-based securities during the run-up to the financial crisis.

The deal resolves claims by the US that HSBC misled buyers about the quality of the securities, which were backed by pools of home loans.

The issues, which occurred between 2005 and 2007, led to major losses by investors, prosecutors said.

As is common in such settlements, HSBC did not admit or deny the claims.

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