HSBC is one of the top wealth managing companies in the world. HSBC, therefore, is a hugely popular company and its dealings involve so many agents, banks and traders. As such monitoring of the company’s activity is always likely to raise eyebrows due to the large number of clientele and transactions involved. Bearing that in mind, HSBC has not had a good reputation as regards to its past activities dating up to more than a decade ago.
HSBC is facing new allegations of manipulation of transactions involving clients or accounts from other countries. The bank’s traders are being accused for making illegal profits by modifying markets over ten years ago at the expense of their clients. The ECU Group which is also located in the United Kingdom, took HSBC to the commercial court asking HSBC to reveal records on three foreign exchange orders from a decade ago. The worth of … Read the rest