Household HSBC Watch

Once again the question of protection, regulation, or lack or regulation in the United States comes up relative to HSBC. “We cannot have a segregated market where only the large and connected get protected by the SEC,” said former SEC commissioner Roel Campos, now a partner at law firm Cooley Godward Kronish. The […]

It looks like our government is trying to make us think they are doing something about mortgage fraud. More than 400 defendants were charged by federal prosecutors Thursday in connection with alleged mortgage fraud over schemes carried out since March, said to have resulted in about $1 billion in losses. In a probe […]

Financial services companies globally have had more than $195 billion in asset writedowns and credit losses this year stemming from the collapse of the U.S. subprime mortgage market. Merrill Lynch’s $24.5 billion of subprime-mortgage-related writedowns and losses are the highest of any bank or securities house, according to data compiled by Bloomberg. Losses may […]

HSBC has been added to the list of defendants in another class action suit. Although class action suits are nothing new for HSBC - in part thanks to HSBC Finance - January 25th was when HSBC was added to a new suit. New York state officials are suing a total of 26 banks […]

NEW YORK — The National Association of Securities Dealers said it fined a U.S. brokerage unit of HSBC Holdings PLC $250,000 for failing to have adequate systems in place to supervise trading of government securities.

The firm, HSBC Brokerage, also failed to ensure that its customers wouldn’t be harmed by its routing orders to HSBC Securities, […]

Senior executives at Fannie Mae manipulated accounting to collect millions in “maximum, undeserved bonuses” and deceive investors, a federal report charged Tuesday. The government-sponsored mortgage company was fined $400 million.

The blistering report by the Office of Federal Housing Enterprise Oversight, the result of an extensive three-year investigation, was issued as Fannie Mae struggles to emerge […]

A look at some of the high-profile corporate scandals of recent years and the status of legal action in each.

QWEST COMMUNICATIONS INTERNATIONAL INC. _ Former Qwest CEO Joseph Nacchio is indicted Tuesday on 42 counts of insider trading accusing him of illegally selling off $101 million in stock. In July, Robin Szeliga, former CFO, pleaded […]

The FBI has joined the government investigation of accounting errors totaling hundreds of millions of dollars at Delphi Corp., the world’s largest auto supplier. Delphi shares slipped in early trading. Dawn Clenney, a spokeswoman for the FBI’s Detroit office, confirmed Friday that the bureau is investigating alongside the Securities and Exchange Commission and United […]