HSBC Reaches Pact with US Authorities, to Pay $1.92 Billion HSBC Holdings PLC (HBC) said Tuesday it has reached agreement with U.S. authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanctions laws and will make payments totaling 1.921 billion U.S. dollars. HSBC will continue to cooperate fully with regulatory and law enforcement authorities and take further action to strengthen its compliance policies and procedures. Pact includes a deferred prosecution agreement, or DPA, with the U.S. Department of Justice. HSBC has also reached agreement to achieve a global resolution with all other U.S. government agencies that have investigated HSBC's past conduct related to these issues1 and anticipates finalizing an undertaking with the U.K. Financial Services Authority shortly. Stuart Gulliver, Group Chief Executive, said: "We accept responsibility for our past mistakes." In the past several years, the Board of HSBC Holdings has taken decisive action to direct management to fix past shortcomings as they have come to light. Since 2011, with new senior leadership teams in place at both HSBC Group and HSBC North America, HSBC has taken extensive and concerted steps to put in place the highest standards for the future. Agreement notes that HSBC Bank USA and HSBC Group have "provided valuable assistance to law enforcement." HSBC conducted multiple extensive internal investigations, voluntarily made employees available for interviews, and collected, analyzed and organized voluminous evidence and information. Shares closed Monday at 641 pence valuing the company at 118.02 billion pounds. Copyright © 2012 Dow Jones Newswires