Barclays, Fidelity and HSBC have been flagged by the Financial Conduct Authority as the most-complained about firms for investments in the first half of 2014. Barclays had 2,844 investment complaints reported against it in the first half, the FCA said, followed by Financial Administration Services Limited (responsible for Fidelity ISAs and FundsNetwork) and HSBC, both […]

Executives of HSBC Holdings Plc and its U.S. subsidiary are scheduled to testify Tuesday before a Senate panel about how the London-based banking behemoth, after years of run-ins with U.S. authorities over alleged anti-money laundering lapses, has cleaned up its act. In anticipation of the hearing, HSBC Chief Executive Stuart Gulliver sent a message to […]

In the States of Jersey official report dated Tuesday, 5th November 2013 (5.18) it is reported that Deputy G.P. Southern asked  Does the Chief Minister have any information on when the J.F.S.C. (Jersey Financial Services Commission) may product its report on the activities of HSBC Middle East, as promised earlier in the year? Senator I.J. […]

It has been reported May 19th 2014 that HSBC officials recently discovered that the branch’s landlord is an Iranian state corporation, subject to US sanctions. The branch last year paid £192,402 in rent to the state-controlled National Iranian Oil Company, which owns the building, and another £30,000 in the first quarter of 2014. While HSBC […]

HSBC’s final year results for 2013 reveal its bill for investment advice mis-selling in the UK, uncovered as part of a regulatory mystery shopping exercise that targeted a total of six banks, is set to reach £96m. As part of its mystery shopper exercise, the regulator reviewed practices at six major retail banks between March […]

A U.S. federal judge has approved the Deferred Prosecution Agreement in which British banking giant HSBC will pay $1.9 billion to regulators and the Justice Department for operating with anti-money laundering weaknesses that among other things allowed drug cartels to launder hundreds of millions of dollars. But when making the deal final, U.S. District Judge […]

A major investigation is continuing into allegations of money-laundering through Jersey bank accounts. The Jersey Financial Services Commission began the probe following claims made last November that a drug dealer and a gunrunner were among more than 4,000 customers to hold accounts with HSBC in the island. It followed a leak of the bank’s client […]