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

A Look At Some Facts And Figures On Medical Marijuana In Canada

A Federal Court judge has struck down the law barring medical users from obtaining marijuana outside of licensed producers, saying it violates their charter rights. Here's a look at medical marijuana:

A Look At Some Facts And Figures On Medical Marijuana In Canada

Judge Named For Trial Of Pair Accused Of Plotting To Shoot Halifax Shoppers

Lindsay Souvannarath and Randall Shepherd didn't speak or show emotion as they sat in court during the hearing.

Judge Named For Trial Of Pair Accused Of Plotting To Shoot Halifax Shoppers

Ontario's Net Debt Expected To Exceed $300 Billion In Thursday's Budget

Low oil prices and a weaker loonie have helped Ontario lead the country in economic growth, but the province has the largest debt of any sub-national government in the world.