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HSBC Fined Record $16M For Bilking Elderly Clients

By Ian Thoms ( December 5, 2011, 3:01 PM EST) -- British authorities hit HSBC Holdings PLC with a record £10. 5 million ($16. 4 million) fine Monday for allegedly selling investments to elderly customers who were unlikely to live out the recommended time period for the financial products. . . .

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