Regulator says bank failed to properly implement Financial Services Compensation SchemeBusiness live – latest updatesHSBC has been fined £57m by the Bank of England’s financial stability arm for failing to protect customer deposits in the event of a banking collapse.It is the second-highest fine imposed by the Bank’s Prudential Regulation Authority (PRA) and reflects the seriousness of the failings, the watchdog said. The highest fine was £87m, imposed on Credit Suisse last July. Continue reading…
Source link : https://www.theguardian.com/business/2024/jan/30/hsbc-fined-deposits-pra-fscs-financial-services-compensation-scheme
Author : Julia Kollewe
Publish date : 2024-01-30 08:51:35
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HSBC fined £57m over ‘serious’ deposit protection failings
