HSH Nordbank to involve City of London Police in investigation of suspicious activities at London branch
Hamburg/Kiel, October 7, 2009 - HSH Nordbank has reported certain suspicious business transactions handled by the London branch of the bank to the City of London Police in England. There is a concern that these transactions may have involved fraud
The Financial Services Authority (FSA) in the UK and the Federal Office for the Supervision of Financial Services in Germany have been informed as well.
The compliance and audit departments of the bank have been conducting their own investigation with the support of outside counsel since June 2009. They investigated whether the bank had been harmed and whether former employees of the branch were involved and if so, in what way. The results of this investigation have now prompted the decision to involve the City of London Police.
The chairman of the Management Board, Mr. Nonnenmacher, had already made it clear in other context that any suspicion of irregularities within the bank would result in the most thorough investigation and, where appropriate, disciplinary action.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.
Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.