HSBC saw one of its former bankers convicted a year ago in connection with the probe.
Additionally, the deal included HSBC entering a three-year deferred prosecution agreement, which would allow the bank to avoid criminal charges pertaining to this case.
The settlement agreed with the US Department of Justice (DoJ) consists of a $63.1m fine for financial crimes and of a $38.4m repayment to an unnamed corporate client. The agreement, filed in a federal court on Thursday, is pending review by a USA court.
The bank said that the conduct in the contract occurred in 2010 and 2011 and since then it has introduced measures to toughen its internal controls. The bank had previously settled for about $8 million with Cairn Energy.More news: Putin takes dip in icy Russian lake on Epiphany
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"Today's agreement represents that the financial services company, HSBC Holdings, is responsible for the conduct of its employees, and that it must not be permitted to benefit from the fraud committed by bank personnel", said Inspector General Lerner. In the 2015 resolutions, five banks were found guilty and every one paid between $200 million and $925 million after confessing to manipulate currency benchmarks.
The investigation centred on HSBC's foreign exchange (FX) traders who misused confidential client information in 2010 and 2011 during multibillion-dollar FX transactions.
The two are accused of contriving to take benefit of internal information about Cairn Energy Plc's plans that involved selling part of its stake in an Indian subsidiary. Johnson and his former colleague Stuart Scott, HSBC's European head of foreign exchange trading in London until December 2014, allegedly pocketed $3m in profit and also billed their client $5m in fees for their work. According to the prosecution, Johnson was among 11 traders in London and NY who sparked a pound-buying frenzy shortly before the Cairn transaction was due to be completed. The former head of foreign exchange cash trading at HSBC faces up to 20 years in federal prison. Stock has got OUTPERFORM rating from 0 of Thomson Reuters analysts, 0 given HOLD rating to the stock and 0 given UNDERPERFORM rating.