HSBC Holdings Plc has been subjected to a significant fine of £57.4 million (equivalent to $73 million) by UK regulatory authorities due to deficiencies related to how it classified deposits for protection in the event of bank failure. The Prudential Regulation Authority (PRA) announced this penalty, marking it as their second-largest fine ever, indicating the … Continue reading HSBC Incurs £57 Million Fine in the UK for Incorrectly Classifying Deposits