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Violation Tracker UK Individual Case

Company: HSBC Bank plc and HSBC UK Bank plc
Current Parent CompanyHSBC
Parent at the Time of the Penalty Announcement: HSBC
Penalty: £57,417,500
Year: 2024
Date: 30 January, 2024
Offence Group: financial offences
Offence Type: internal controls deficiency
Violation Description: HSBC was fined £57 million following a finding by the PRA that they failed to put in place adequate systems and controls, and governance, to ensure the integrity of critical information which the Financial Services Compensation Scheme relies upon to make prompt payments to depositors in the event of a firm failure.
Agency: Prudential Regulation 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)