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HSBC Offers $30M, 'Chat' Evidence To Settle Bond-Fix Suit

Law360 (January 10, 2019, 3:57 PM EST) -- HSBC Bank PLC has cut a $30 million deal to settle investors’ allegations surrounding a scheme to rig the SSA bond market, and will hand over electronic “chats” to aid the class’ prosecution of remaining banks in the case, according to settlement documents filed in New York federal court on Wednesday.

Banking giant HSBC struck the deal alongside a U.S.-based affiliate to become only the third financial services group to settle out of the 3-year-old bond-fixing action in the U.S. (AP) The major U.K. bank struck the deal alongside a U.S.-based affiliate — HSBC Securities (USA) Inc. — to become only the...

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