Midweek Roundup: HSBC Sets Aside $700 Million for Expected Settlement, U.K. Court Limits Extraterritorial Asset Seizures, and More

HSBC Holdings PLC has set aside $700 million for a potential anti-money laundering (AML) settlement with the U.S. Justice Department, the bank disclosed in a 6-K Securities and Exchange Commission filing Monday. HSBC, which is also cooperating with the U.S. Treasury Department and the Manhattan District Attorney's Office as part of the investigation, paid approximately $27 million to Mexican authorities last week for lapses in customer due diligence and other violations. More The United Kingdom does not have the authority to seize the proceeds of crime committed abroad, under a U.K. Supreme Court ruling, Step Journal reported Monday. Ruling in...