HSBC's Asia-Pacific Hiring Practices Being Probed by SEC
- SEC is investigating multiple financial companies, HSBC says
- London-based bank says it's cooperating with U.S. regulator
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HSBC Holdings Plc, Europe’s biggest bank, said it’s among financial institutions being investigated by the U.S. Securities and Exchange Commission in relation to their hiring practices in the Asia Pacific.
The probe is linked to the hiring of candidates referred by, or related to, government officials or employees of state-owned companies in the region, HSBC said in a Hong Kong exchange statement on Monday that accompanied its latest earnings report. The London-based lender had received “various requests for information” and is cooperating with the SEC, it said.