Weekly Roundup: S&P Downgrades HSBC for AML Troubles, Sri Lanka Weighs New Counterterrorism Financing Controls, and More

Standard & Poor's downgraded HSBC Holdings Plc to a negative rating Thursday, citing an ongoing probe into alleged money laundering at the institution, Reuters reported. The ratings agency said that its compliance troubles could cost the bank additional business and increased compliance expenses, and shows that the bank may have prioritized cost management over control effectiveness. More HSBC has set aside $700 million to satisfy a potential fine. More A Trinidadian official is calling for a money laundering investigation of former F?©d?©ration Internationale de Football Association (FIFA) Vice President Jack Warner, according to Wednesday's Inside World Football. Sen. Fitzgerald Hinds...