Former HSBC Employee Banned for Life
A former employee of HSBC has been banned by Hong Kong Securities and Futures Commission (SFC) from entering the industry following her conviction of bribery. She was a former relationship manager of HSBC and had accepted secret commission of $500,000 as compensation for recommending and selling to a HSBC customer an insurance policy issued by competitor.
She also did not make it clear to the customer that the insurance policy was not a product of HSBC which was to the detriment of the bank’s interests.
News Source: SFC Press Release
The Hong Kong and Shanghai Banking Corporation Limited (NYSE:HSBC) was established in 1865 to finance the growing trade between Europe, India and China. HSBC was born from one simple idea – a local bank serving international needs. Today, it covers 71 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America with around 4400 offices in both established and emerging markets, serving around 46 million customers through the Four Global Businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking.
- Origin : London, UK
- Assets : Euro 21.67 billion
- Revenue : Euro 721.3 million
- Employees : 266,000
Official Website: www.hsbc.com
News & Media: Press Release
Updated on 8th August 2016
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