HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
The inquiry being conducted by the Senate Permanent Subcommittee on Investigations could yield a report and congressional hearing later this spring, these people said. The subcommittee has a history of conducting high-profile hearings that have proved embarrassing for the world's biggest banks.
People have suggested I am seeking to highlight HSBC's seemingly consistent involvement in investigations of tax evasion as if I have ulterior motive.
I dispute that: I don't need to highlight that HSBC seem to be consistently involved in investigations of tax evasion; the fact is that they are.
The question is, why is that the case?
Maybe The Rev Lord Stephen Green could offer an explanation as former CEO and Chair of the bank?