HSBC Holdings (HSBC) Said Probed by U.S. DoJ Over Confidential Info Leak
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Shares of HSBC Holdings plc (NYSE: HSBC) are indicated higher following reports that the U.S. Department of Justice could be investigating the firm over allegations that an employee had leaked confidential information to a large hedge fund.
The WSJ said DoJ officials are interviewing employees about the potential leak, which is said to have happened in March 2010. The questioning is part of a broader probe into improprieties into the currencies markets.
Notably, the alleged event was self-reported by HSBC to U.S. and British authorities.
The WSJ noted that the event happened when HSBC was advising Prudential plc (NYSE: PUK) on a huge acquisition and working on a large, multibilion dollar currency transaction.
HSBC shares are up 0.6 percent.
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