Basic Search  |  Summaries  |  Advanced SearchPenalty: £10,500,000
Year: 2011
Date: 2 December, 2011
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: HSBC paid a £10.5 million fine in settlement of a finding by the FSA that the company's subsidiary NHFA Ltd., specialised in selling investment bonds to fund care costs for elderly customers, gave investment advice and sold investment products that were unsuitable for customers' situations and tolerance of risk.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
Source of Data: (click here)