It just never ends with these people. Every month another big Bank caught in corrupt activity.
OH yes nothing untoward going on in the banks at all. No reason to have a Royal Inquiry into corrupt dealings of any banks, no reason at all. No reason except the government is doing cartwheels to distract the country from having a proper inquiry into banks, an inquiry which can compel people to give evidence, an inquiry that takes expensive teams of lawyers out of the picture.
HSBC Fined a Record $51 Million Over Lehman-Linked Products
By
Alfred Liu
and
Benjamin Robertson
November 21, 2017, 7:38 PM GMT+10 Updated on November 21, 2017, 11:10 PM GMT+10
- Private-banking unit fined HK$400 million by appeals tribunal
- SFC originally imposed HK$605 million penalty on HSBC
HSBC Holdings Plc’s private-banking unit was fined a record HK$400 million ($51 million) over sales of structured products linked to Lehman Brothers Holdings Inc. in Hong Kong.
HSBC Private Bank (Suisse) SA will have its license to advise on securities suspended for a year, while its dealing license will be partially suspended, the Securities and Futures Appeals Tribunal said in a
ruling Tuesday, as it upheld previous findings by the Securities and Futures Commission. HSBC said the suspensions won’t affect private-banking operations in Hong Kong.
https://www.bloomberg.com/news/arti...king-unit-loses-appeal-against-hong-kong-fine
