Alert for HSBC shareholders

HSBC’s shareholders should scrutinize the bank’s compensation plan before they vote on it, the Association of British Insurers said.

The group, whose members own about 15 per cent of all British publicly traded companies, issued an ”amber alert” on the plan, which will be voted on at the London-based bank’s annual meeting on May 28.

”This is a matter for shareholder judgment, which is why it has been amber-topped,” an ABI spokesman, Erfan Hussain, said yesterday.