The Prudential Regulation Authority (PRA) fines HSBC £57,417,500 for failures in deposit protection identification and notification

The PRA has fined HSBC Bank plc (HBEU) and HSBC UK Bank plc (HBUK) (together, the Firms) £57,417,500 for historic depositor protection failings arising from the Firms’ failures over many years to properly implement the requirements set out in the Depositor Protection Rules.
Published on 30 January 2024