The Prudential Regulation Authority (PRA) has fined HSBC £57.42m for failings related to Financial Services Compensation protection for customers.

The FCA and the PRA have published joint proposals to boost diversity and inclusion across the financial services sector and to help tackle the scandals and poor behaviour.

The FCA, PRA and Bank of England are to remove the £10,000 limit on compensation payments related to complaints about the regulators due to be implemented from 1 November.

Swiss bank and investment provider Credit Suisse has been fined £87m by the Prudential Regulation Authority for “significant failures in risk management and governance” related to the collapse of Archegos Capital.