Hong Kong regulator fines HSBC $2.1m for breaching phone recording standards

clock • 1 min read

The Securities and Futures Commission (SFC), the financial regulator of Hong Kong,  has reprimanded and fined HSBC $2.1m for non-compliance with the telephone recording requirements under its code of conduct.  The disciplinary action arose from HSBC's failures to set up or enable voice recording of some of the telephone lines in its private banking division between 8 April 2017 and 31 January 2018, during which 5,830 client order instructions received through 59 affected telephone lines were not tape-recorded.    The SFC considered that HSBC has failed to put in place effective intern...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?


Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.