MOSCOW (Sputnik) — The London-based bank is “one of multiple financial institutions” probed by the US Securities and Exchange Commission (SEC) over its Asian hiring practices, according to HSBC’s annual report.
“Based on the facts currently known, it is not practicable at this time for HSBC to predict the resolution of this matter,” the HSBC’s statement reads.
The SEC is reportedly investigating into investment banks’ bribery law violations amid the banks hiring relatives of well-connected officials.
The probe comes as HSBC announced a $1.3-billion loss for the final quarter of 2015, compared with a $511 million profit in the same period in 2014.
