HSBC at Risk of U.S. Charge Affecting 2012 Agreement

The video discusses HSBC's deferred prosecution agreement with the Department of Justice, which dates back to 2012 due to control failures around money laundering and sanctions violations. A 2011 trade, predating the agreement, is under scrutiny to determine if HSBC handled it correctly. The DOJ is investigating whether the bank's actions were appropriate, which could affect their current legal standing. The process of tearing up a DPA is complex, with differing opinions within the DOJ. If the DPA is revoked, HSBC may face ongoing legal challenges, impacting its business operations.

What is a deferred prosecution agreement and how does it relate to HSBC?

What could happen if HSBC commits a crime during the probationary period?

What was the significance of the trade done by HSBC in 2011?

How did HSBC respond to the concerns raised by the Department of Justice regarding the trade?

What are the potential consequences for HSBC if the deferred prosecution agreement is torn up?