PRESS DIGEST-Financial Times - Dec 11

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- Maurice Saatchi quits M&C as accounts scandal takes fresh twist https://on.ft.com/36l0GXk - HSBC to pay $192 million penalty in US tax evasion case https://on.ft.com/36laoJe

- Business victims of HBOS fraud in line for bigger payout https://on.ft.com/35cfU0D - Facebook under fire as political ads vanish from archive https://on.ft.com/2t7L1wj

Overview - The founder of M&C Saatchi and three independent directors quit the advertising company on Tuesday in a dispute over reforms.

- The private banking unit of HSBC Holdings will pay $192.4 million to resolve a U.S. probe of its role in helping account holders conceal assets abroad and evade taxes. - A compensation scheme set up by Lloyds Banking Group for victims of the HBOS fraud was ruled as not "fair and reasonable" and needed to be reassessed by an independent review.

- Thousands of UK political ads went missing from Facebook's public archive on Tuesday, less than two days before Britain's general election.