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    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/27 11:38:22 am
538.3 GBX   +2.98%
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EU fines 4 banks $390M in foreign exchange trading cartel

12/02/2021 | 05:59am EST

BRUSSELS (AP) — The European Union said Thursday that it has fined four major banks a combined $390 million for colluding in a foreign exchange spot trading cartel that allowed them to beat inherent risks in currency deals.

HSBC received the biggest fine of almost $200 million, while Credit Suisse, RBS and Barclays received smaller penalties. UBS was spared a fine because it revealed the cartel, according to the European Commission, the EU's executive arm.

"The collusive behavior of the five banks undermined the integrity of the financial sector at the expense of the European economy and consumers,” commission Vice President Margrethe Vestager said.

The commission said in a statement that several foreign exchange spot traders "exchanged sensitive information and trading plans, and occasionally coordinated their trading strategies through an online professional chatroom called Sterling Lads."

Because it revealed the cartel, UBS escaped a fine of $106 million, while Barclays, RBS and HSBC received reductions for cooperating with the EU probe.

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Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Analyst Recommendations on HSBC HOLDINGS PLC
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Financials (USD)
Sales 2021 50 022 M - -
Net income 2021 12 281 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,9x
Yield 2021 3,57%
Capitalization 146 B 146 B -
Capi. / Sales 2021 2,91x
Capi. / Sales 2022 2,75x
Nbr of Employees 223 448
Free-Float 98,2%
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Technical analysis trends HSBC HOLDINGS PLC
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 7,04 $
Average target price 7,32 $
Spread / Average Target 3,94%
EPS Revisions
Managers and Directors
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Ewen James Stevenson Chief Financial Officer & Executive Director
Mark Edward Tucker Independent Non-Executive Director
Steven C. van Wyk Chief Information Officer
John M. Hinshaw Group Chief Operating Officer
Sector and Competitors