Monthly Top 5 ORX News Losses – January 2019
- 20 February 2019
1. General Electric, United States – $1500m
General Electric announces settlement with DoJ for USD 1.5 billion over subprime mortgages.
Business Line: BL0301 Retail Banking
Event Type: EL0402 Improper Business or Market Practices
2. ED&F Man, Hong Kong – $284m
ED&F Man sues two Hong Kong firms for USD 284 million over alleged nickel fraud.
Business Line: BL0202 Global Markets
Event Type: EL0201 External Theft & Fraud
3. Crédit Agricole, Italy – $80.1m
Crédit Agricole to pay EUR 70 million over FCA Bank’s auto financing antitrust violations.
Business Line: BL0301 Retail Banking
Event Type: EL0402 Improper Business or Market Practices
4. Bank of New York Mellon, United States – $72.5m
BNY Mellon to pay USD 72.5 million over claims it overcharged for ADR dividend conversions.
Business Line: BL0601 Custody Services
Event Type: EL0401 Suitability, Disclosure & Fiduciary
5. HSBC, United States – $30m
HSBC to pay USD 30 million to settle SSA bond rigging class action lawsuit.
Business Line: BL0202 Global Markets
Event Type: EL0402 Improper Business or Market Practices
The operational risk year to date
Summary of distribution, frequency and severity of ORX News event digests.
