HSBC bans staff from buying stock, bonds on own accounts: sources

London

HSBC Holdings Plc has instructed about 6,000 employees of its global markets division to cease buying single-name securities on their personal accounts, according to people with knowledge of the matter.

Purchases of single-name stocks, bonds and concentrated exchange-traded funds will be prohibited, Global Head of Markets Thibaut de Roux told staff in an e-mail on Friday, said the people, who asked not to be identified discussing internal communications. The changes also apply to employees managing the lender's own balance sheet, the people said.