HSBC bank fined for mis-selling to elderly
One of Britain's biggest banks, HSBC, has been fined £10.5m by the Financial Services Authority (FSA) for mis-selling products to elderly customers.
In some cases, individuals were offered five-year investments which were longer than their life expectancy.
Tracey McDermott, acting director of enforcement and financial crime at the (FSA) told the BBC that this fine should act as a deterrent for other banks.
05 Dec 2011
- From the section Business