Banking giant HSBC has disclosed details of a potential new mis-selling scandal as it prepares to launch a review of its investment advice to wealth management customers over a four-year period.
The group announced that it had set aside 149 million US dollars (£93 million) to cover the cost of the review, due to begin next year, and any customer redress.
HSBC also disclosed, as it published third quarter results, that it has become the latest bank to be drawn into a worldwide probe into foreign exchange trading.
The revelations threatened to overshadow improving earnings for the business, which saw underlying pre-tax profits rise 10% to 5.06 billion US dollars (£3.17 billion) compared to the same period last year.
HSBC, like other banks, has already made massive provisions for mis-selling payment protection (PPI) and interest rate protection products, with latest disclosures seeing the total pot swelling to more than £2 billion.
Third quarter financial results from the bank showed that an additional 147 million US dollars (£92 million) was put aside for PPI and 132 million (£83 million) for interest rate protection.
But for the first time, customer redress provision also included the figure for wealth management, which was greater than either of the other two for the three-month period and brought the total additions to 428 million US dollars (£268 million).
The bank's review of this area, to begin in the first quarter of 2014, will cover the period from 2008 to 2012.
It said the majority of sales personnel were no longer with HSBC as they left the business as it prepared to become compliant with new regulations on financial advice that came into effect at the end of last year.
Meanwhile, HSBC's disclosure that it has been contacted by the Financial Conduct Authority over foreign exchange trading comes after reports last week that Royal Bank of Scotland and Barclays traders had been suspended over similar allegations.
HSBC said in its case none of the traders said to have been involved were still working for the bank and that no employees were suspended. It said it was "co-operating with the investigations which are at an early stage".
It is the latest potentially damaging setback for the bank after a 1.9 billion US dollar (£1.2 billion) fine paid last year to American regulators to settle an investigation into money laundering.
The bank has also revealed that it re-invested some of the 4.5 billion US dollars (£2.8 billion) savings it had achieved for the business since the start of 2011 by increasing its "risk and compliance" workforce by 1,600 since last December.
Despite the latest disclosures, the overall performance of the bank - which employs around 260,000 people - cheered the stock market, lifting shares more than 2% on the FTSE 100.
Chief executive Stuart Gulliver said its home markets in the UK and Hong Kong contributed more than half of the group's underlying profits before tax.
Mr Gulliver said: "Hong Kong continues to benefit from its close economic relationship with mainland China. We remain well positioned to capitalise on improving economic conditions in these markets.
"We see reasons for optimism with some evidence of a broadening recovery."