WASHINGTON: HSBC Holdings Plc is under investigation by a US Senate panel in a money-laundering inquiry, the latest step in a long-running US effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
The inquiry being conducted by the Senate Permanent Subcommittee on Investigations could yield a report and congressional hearing later this spring, these people said. The subcommittee has a history of conducting high-profile hearings that have proved embarrassing for the world’s biggest banks.
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