The Justice Department is investigating whether an HSBC employee may have leaked confidential information to a hedge fund, Dow Jones reported.
According to the report, the alleged leak occurred while the bank was advising Prudential "on a huge acquisition and was working on a related multibillion-dollar currency transaction." HSBC self-reported the alleged incident to U.S. and British authorities, Dow Jones said.
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As the report notes, this investigation marks a "new front" in ongoing investigations into the currencies market, as authorities are looking beyond inter-bank information sharing.
For more on the Justice Department's investigation, see the Wall Street Journal story.
