HSBC reorganizes compliance and risk efforts

Bank brings compliance efforts under its risk group

When a company has repeated trouble with a particular department, it’s time to make a change. Global bank HSBC has had repeated problems with its compliance department, and has decided that now is the time to make a few adjustments to the way it handles these matters. 

In 2012, HSBC agreed to a record settlement with U.S. regulators over a money-laundering matter, and in October 2013, the chief compliance officer of HSBC USA stepped down. In the wake of these events, the bank has decided to alter its current compliance model.

Senior Editor and Community Manager

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Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

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