HSBC, in its half year results, has announced that it has set aside £13m to pay for endowment mis-selling complaints.
Our view
It is good that they have set adide funds. But we find it slightly hypocritical in that it is in the same month where HSBC's Chief Executive Michael Geoghegan attacked financial advisers for taking commissions!
Why were endowments sold again? has never sold a mortgage related endowment policy!
We have had to unravel a few howlers though!