May 24, 2017
HSBC Holdings PLC, HSBC Bank PLC, HSBC North America Holdings Inc., HSBC Bank USA, N.A., HSBC Bank Canada (collectively, “HSBC”) entered into a formal settlement agreement whereby HSBC agreed to pay CAD$15,500,000. The settlement is a compromise of disputed claims and HSBC does not admit any wrongdoing or liability. The settlement agreement must be approved by the courts for its terms to become effective. Please click here to view a copy of the settlement agreement.