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Evening Standard
Evening Standard
Business
Simon English

HSBC hit with huge fine by watchdog over customer deposits

HSBC United States PRA City Credit Suisse Ping An

HSBC suffered another serious blow to its reputation today when it was whacked with one of the heaviest fines ever handed out by the City regulator.

The giant bank – a global lender with its HQ in London – was fined £57.4 million for “serious failings” in its systems to protect customer deposits.

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