HSBC's hiring practices in Asia-Pac under probe

Hong Kong

HSBC Holdings plc, Europe's biggest bank, said on Monday that it is among financial institutions being investigated by the US Securities and Exchange Commission (SEC) in relation to its hiring practices in the Asia-Pacific.

The probe is linked to the hiring of candidates referred by, or related to, government officials or employees of state-owned companies in the region, HSBC said in a Hong Kong exchange statement that accompanied its latest earnings report. The London-based lender had received "various requests for information" and is cooperating with the SEC, it said.