HSBC Investment Divisions Settle With B.C. Securities Commission On Over-Charging

Darpan News Desk The Canadian Press, 13 Jun, 2016 01:12 PM

VANCOUVER — The B.C. Securities Commission says two divisions of the HSBC Bank Canada have settled with the regulator after over-charging investment clients.

The securities commission said HSBC Investment Fund Inc. repaid 4,651 clients a total of $7.1 million while HSBC Private Wealth Services Inc. repaid 10 clients about $10,000 after inconsistently applying discounts.

The commission said the two HSBC divisions co-operated fully with the review and agreed to pay the regulator $320,000 in the settlement.

Prev Next

MORE National ARTICLES

Strapped Canadian Police Forces Are Moving Towards Costly Body Cameras

Some Canadian cities and police forces already wrestling with cash-flow shortages are moving toward outfitting officers with body cameras despite privacy concerns and scant consensus on the technology's cost-effectiveness

Strapped Canadian Police Forces Are Moving Towards Costly Body Cameras

Ontario Premier Meets With Black Lives Matter Protesters At The Legislature

Premier Kathleen Wynne told a crowd of Black Lives Matter protesters who marched to the Ontario legislature today that she agrees racism still exists and that it's a very important issue to her.

Ontario Premier Meets With Black Lives Matter Protesters At The Legislature

'Black Widow' To Continue Living Under Peace Bond With 22 Conditions

When Melissa Ann Shepard left the women's prison in Truro, N.S., on March 18, police issued a warning to the public, saying she is considered a high risk to reoffend.