Investors Can Grill HSBC On 2018 Forex Deal, Judge Says

Law360 (June 26, 2020, 8:26 PM EDT) -- A New York federal judge will allow a proposed class of investors accusing several big banks of rigging benchmark foreign exchange rates to question HSBC about its 2018 deal with the U.S. Department of Justice that resolved similar claims of forex market manipulation.

In an order filed Thursday, U.S. District Judge Lorna G. Schofield said the investors could ask HSBC Bank NA and HSBC North American Holdings Inc. about the bank's communications with the government leading up to a deferred prosecution agreement in which HSBC Holdings PLC, a related entity that is not a party to the instant suit, paid over...

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