All HSBC articles – Page 2

  • HSBC

    Hat tip to HSBC for stopping money laundering, saving lives


    If you’re in search of proof that what you do matters, look no further than the AML efforts of HSBC in preventing $500 million from reaching the bank accounts of criminals, writes Martin Woods.

  • HSBC

    HSBC US appoints chief compliance officer


    HSBC has appointed Christine Lowthian as chief compliance officer US, effective as of July 20.

  • Oil collapse

    Analysis: Oil collapse leaves Singapore traders scrambling


    Recent fraud complaints at oil traders in Singapore highlight the risks in the international business of commodity finance, where high prices provide high rewards and low prices can leave lenders exposed.

  • Article

    HSBC names chief risk officer amid leadership changes


    HSBC Holdings, the parent company of HSBC Bank, announced the appointment of a new chief risk officer amid several executive changes.

  • Danske

    Embattled Danske hires HSBC compliance head


    Danske Bank, embroiled in a substantial money laundering scandal, has added to its compliance team with the appointment of Simon Kingsbury as head of surveillance & investigation.

  • Blog

    The fight against worldwide corruption


    When banks and regulators work together to halt the transfer, hiding, and parking of corrupt funds, the war on corruption takes one more giant step forward.

  • Blog

    HSBC to pay $101.5M in front-running scheme case


    U.K.-based global financial services company HSBC Holdings will pay a total of $101.5 million to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as “front-running.”

  • Blog

    Dropbox, HSBC, and the CFPB


    In case you missed it this week, Dropbox filed confidentially for an IPO, HSBC settles over money-laundering allegations, and the CFPB is giving loan-sharks some slack.

  • Blog

    Safeguarding HSBC against Zupta


    HSBC’s new anti-money laundering (AML) and sanctions policies are due to be in place by the end of the year, but what form of compliance or enforcement will they take?

  • Blog

    Once again, no judicial review of DPAs


    While there will be no official review, a recent case where a federal district court approved a limited release of a Monitor’s report from the financial institution HSBC will have an impact on the court’s treatment of DPAs.

  • Blog

    Front-loading at HSBC


    The woes at HSBC continue as executives in its forex unit face charges of trading manipulation. Tom Fox has more.

  • Blog

    It is good to have friends at the top


    It’s good to know someone at the top—that well-known maxim was demonstrated yet again recently when it was revealed that U.K. Chancellor of the Exchequer George Osborne intervened with the U.S. government during the investigation of money laundering violations by the U.K. bank HSBC. Tom Fox reports.

  • Blog

    Succession Planning: A Priority for Bank Chiefs in 2016


    Standard Chartered has scored big by hiring HSBC veteran Simon Cooper to serve as the London-based company’s corporate and institutional banking head but, according to the Financial Times, Cooper’s departure from HSBC may be a sign the exec has grown impatient waiting to take over the British bank’s reigns. Cooper, ...

  • Blog

    Britain’s Top Banks Escape Breaking Up; CMA Calls for More Clarity


    Britain’s Competition and Markets Authority (CMA) has squashed the idea of breaking up some of the country’s largest banks in an effort to improve competition across the industry. After a thorough review, the CMA found that there’s no direct connection between free accounts and competition. Instead, the competition watchdog ...

  • Blog

    U.K. Banks on the Lookout for Civil Claims in Forex Scandal


    The foreign markets manipulation debacle may drag on, with no end in sight. In the wake of a recent landmark legal settlement where top banks, including the Royal Bank of Scotland, UBS, and Barclays, agreed to a £1.28 billion settlement in the rate-rigging scandal, lawyers and analysts are warning it’s ...

  • Blog

    HSBC Disciplines U.S. Executive Over Compliance Attitude


    HSBC has decided to reassign the Americas head of its global banking division because of the manager’s poor attitude about the bank’s compliance and audit program, according to an update from its compliance monitor. The report cited that move as one example of HSBC’s improvement on compliance, while still warning ...

  • Article

    Lessons From HSBC’s Size, Compliance Struggles


    For nearly three years, HSBC Holdings, a grande dame of international banking, has come under fire for a litany of regulatory problems and compliance failures: money laundering, sanctions, violations, and abetting tax evasion to name just a few. How does a good bank fall into such dire straits? The problem, ...