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HSBC failed to protect $142 billion in deposits, receives bumper fine

HSBC failed to protect $142 billion in deposits, receives bumper fine
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HSBC news: HSBC fined 57 million pounds for 'serious' deposit protection failures

HSBC faces a £57.4 million ($73 million) fine from the Bank of England for "serious failings" in safeguarding certain customer deposits. The bank inaccurately identified deposits eligible for the Financial Services Compensation Scheme (FSCS), breaching rules to ensure proper compensation in case of a firm s failure. ....

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