HSBC's US subsidiary will pay $75 million to settle allegations of fraud and the use of unapproved communication tools

FAP, May 13 / PRNewswire-FirstCall-Asianet /-- the Commodity Futures Trading Commission (CFTC) said on May 12 that the US subsidiary of the London-based bank would pay $45 million for past alleged misconduct such as swaps and bond issues. HSBC entities also agreed to pay $30 million to settle another CFTC investigation into the unauthorized use of unauthorized communications tools, including personal phones and WhatsApp. "HSBC is pleased that these things are over and we thank the Securities and Exchange Commission (SEC) and CFTC for their commitment to correct our internal controls if necessary," HSBC spokesman Matt Ward said in a statement.