Press Release

October 07, 2010 Cease and desist order against HSBC North America Holdings For immediate release Share The Federal Reserve Board on Thursday announced the issuance of a consent Cease and Desist Order between HSBC North America Holdings, Inc. (HNAH), New York, New York, a registered bank holding company, and the Federal Reserve Board. The order requires HNAH to take corrective action to improve its firmwide compliance risk-management program, including its anti-money laundering compliance risk management. Concurrent with the Federal Reserve Board's enforcement action, the Office of the Comptroller of the Currency announced Thursday the issuance of a Cease and Desist Order against HSBC Bank USA, N.A., McLean, Virginia, for violating the Bank Secrecy Act and its underlying regulations. A copy of the Board's order is attached. Attachment

Federal Reserve (2010, October 6). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20101007_cease_and_desist_order_against_hsbc_north_america

@misc{wtfs_press_release_20101007_cease_and_desist_order_against_hsbc_north_america,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2010},
  month = {Oct},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20101007_cease_and_desist_order_against_hsbc_north_america},
  note = {Retrieved via When the Fed Speaks corpus}
}