HSBC Holdings Plc was sued by Singaporean billionaire Peter Lim’s ex-wife, who claimed she suffered losses because of the bank’s negligence.
Teo Geok Fong, who started investing with private banks after her divorce settlement in 2002, claims she was misled into believing certain products were suitable for her risk profile, according to her lawsuit filed against HSBC’s Singapore unit. The London-based bank has denied wrongdoing. Full story
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Mis-Selling Derivatives: HSBC Sued by Billionaire Peter Lim's Wealthy Ex-Wife Teo Geok Fong - International Business Times
