HSBC has announced it will take responsibility for all customers mis-sold investment products by NHFA, a care fees advice business it acquired in 2005.
The bank HSBC was fined £10.5m earlier this week and ordered to pay £29.3m compensation after advisers at NHFA gave inappropriate investment advice to almost 2,485 customers with an average age of 83. Today HSBC opened the way for thousands more potential claims by pledging to investigate complaints dating back to before it bought the company. It has begun writing to all NHFA customers from April 2004 to date and said it wants to ensure no NHFA customer "is financially disadvantaged" by the advice they were given. The letters will inform customers whether they have been identified ...
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