What are the implications of this arrest for HSBC? The FT concludes that there is a chance it could "cause reputational damage to the global bank?s forex trading business and fuel more calls for HSBC to face full criminal charges. The DoJ has already been criticised for failing to prosecute HSBC after it paid $2bn in 2012 over laundering billions of dollars for Mexican and Colombian drug gangs."
Arrested HSBC FX Trader Had Been Cleared In Bank's Own Internal Probe | Zero Hedge