FINRA fines HSBC $1.5 Million

The Financial Industry Regulatory Authority fined units of HSBC Holdings PLC in a settlement of cases related to the sale of auction-rate securities that became illiquid when auctions froze in February 2008. HSBC neither admitted or denied the charges, but consented to Finra’s findings under the settlement.

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HSBC’s refusal in Dubai

DUBAI – Dubai World’s creditors have rejected the idea of taking a “haircut” on $22 billion of debt with preliminary discussions shifting towards extending the maturity of existing loans and bonds, bankers familiar with the matter said.

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HSBC Latin America losses to peak next year

HSBC may be optimistic with this forecast:

HSBC Holdings PLC (HBC) doesn’t expects loan losses at its Latin American operations to peak until the middle of the year as the region faces headwinds from the global economic downturn in the coming months, a top executive said Thursday.

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