WASHINGTON, Nov 25 (Reuters) - HSBC Holdings plc will pay $12.5 million to resolve claims that its Swiss privatebank advised American clients without registering to do so, theU.S. Securities and Exchange Commission said on Tuesday.
HSBC Private Bank agreed to admit wrongdoing to settle theclaims, the agency said.
(Reporting by Jonathan Stempel in New York and Aruna Viswanathain Washington; Editing by Tom Brown)