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

No End In Sight For 'Spike Unit' Helping Social Security Tribunal

The so-called spike unit was set up in the fall of 2014 to triage the cases that began piling up after the Conservative government launched the Social Security Tribunal of Canada in April 2013.

No End In Sight For 'Spike Unit' Helping Social Security Tribunal

Arctic Council support sought by environmental groups for heavy fuel oil ban

Environmental groups want the eight countries that ring the North Pole to take a stand on banning the use of heavy fuel oil, considered one of the greatest threats to the Arctic ecosystem.

Arctic Council support sought by environmental groups for heavy fuel oil ban

Man Found Dead In Vancouver Apartment First Murder Of 2016: Police

Const. Brian Montague says in a release a body was discovered in an apartment Saturday night (on Granville Street near Broadway).

Man Found Dead In Vancouver Apartment First Murder Of 2016: Police

Indo-Canadian Sikh Amrik Singh Ahluwalia Elected Head Of Ontario's Peel Police Services Board

After Navdeep Singh Bains and Harjit Singh Sajjan who became the first Sikh Cabinet ministers in Canada, Ahluwalia is the third Indo-Canadian to rise in the country's government affairs