Submitted by admin on December 7, 2011
Wednesday, December 7th, 2011 13:02:00
LONDON: Britain's financial regulator said on Monday that it had fined HSBC £10.5 million (RM51.5 million) after one of the banking giant's subsidiaries missold financial retail products to elderly clients.
In addition to the fine, equivalent to €12.2 million, HSBC has agreed to pay compensation totalling about £29.3 million, the Financial Services Authority said in a statement.
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