HSBC Updates Madoff-Related Litigation Defense

TL;DR

HSBC is still fighting a 2009 lawsuit over the Madoff fraud in Luxembourg.

AI Summary

HSBC Holdings plc, through its subsidiary HSBC Securities Services Luxembourg (HSSL), is updating its defense in a Luxembourg lawsuit filed in 2009 by Herald Fund SPC. The litigation stems from the Bernard L. Madoff Investment Securities LLC fraud, with Herald Fund seeking restitution from HSSL.

Why It Matters

This filing provides an update on ongoing litigation related to the Madoff fraud, which could have financial implications for HSBC if the claim is successful.

Risk Assessment

Risk Level: medium — The litigation is over a decade old and relates to a major financial fraud, indicating potential for significant financial impact.

Key Players & Entities

• HSBC Holdings plc (company) — Registrant and parent company
• HSBC Securities Services Luxembourg (company) — Subsidiary involved in litigation
• Herald Fund SPC (company) — Plaintiff in the lawsuit
• Bernard L. Madoff Investment Securities LLC (company) — Entity at the center of the fraud
• 2009 (date) — Year the lawsuit was filed
• 26 October 2025 (date) — Date of the filing

FAQ

Key Financial Figures

• $1.1b — ngs plc will recognise a provision of US$1.1bn in its consolidated financial results

Filing Documents

• a8533e.htm (6-K) — 17KB
• 0001654954-25-012230.txt ( ) — 18KB

Forward-looking statements may be identified by the use of terms

Forward-looking statements may be identified by the use of terms such as 'expects,' 'targets,' 'believes,' 'seeks,' 'estimates,' 'may,' 'intends,' 'plan,' 'will,' 'should,' 'potential,' 'reasonably possible', 'anticipates,' 'project', or 'continue', variations of these words, the negative thereof or similar expressions or comparable terminology. HSBC has based the

forward-looking statements on current plans, information, data,

forward-looking statements on current plans, information, data, estimates, expectations and projections about, among other things, results of operations, financial condition, prospects, strategies and future events. These forward-looking statements are subject to risks, uncertainties and assumptions about us, as described under 'Cautionary statement regarding forward-looking statements' contained in the HSBC Holdings plc Annual Report on Form 20-F for the year ended 31 December 2024, filed with the SEC on 20 February 2025 (the '2024 Form 20-F')   and in subsequent reports on Form 6-K furnished to or filed with the SEC. HSBC undertakes no obligation to publicly update or revise any forward-looking or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur. Investors are cautioned not to place undue reliance on any

forward-looking statements, which speak only as of their dates. No

forward-looking statements, which speak only as of their dates. No representation or warranty is made as to the achievement or reasonableness of such forward-looking statements. Additional information, including information on factors which may affect the HSBC Group's business, is contained in the 2024 Form 20-F and in subsequent reports on Form 6-K.     SIGNATURE   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.       HSBC Holdings plc       By:   Name: Aileen Taylor   Title: Group Company Secretary and Chief Governance Officer       Date: 27 October 2025

View Full Filing

View this 6-K filing on SEC EDGAR