Two Canadian HSBC Subsidiaries Settle With BCSC For $320K

[kreslik.news]

The British Columbia Securities Commission (BCSC), one of Canada’s leading independent financial market regulators, has reached a settlement with a pair of HSBC subsidiaries, after charging excess fees to select clients, according to a BCSC statement.

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The settlement pits HSBC Investment Funds – Canada Inc. (HIFC) and HSBC Private Wealth Services Inc. (HPWS) against investors, following a BCSC investigation that found the entities had wrongly charged overzealous fees to client accounts. The nature of the fees stemmed from lapses in ... (read more)