HSBC bans traders from buying bonds on personal accounts

Employees will be allowed to maintain existing holdings of securities prohibited by the new rules

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 email 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.

A London-based spokesman for the bank declined to comment.

Employees will be allowed to maintain existing holdings of securities prohibited