Official monitor refused to sign off on HSBC’s efforts to improve compliance after money-laundering scandalHSBC is taking too long to tackle financial crime,US authorities acquire said, with an official monitor installed at the bank after a money-laundering scandal four years ago raising significant concerns”. As Britain’s biggest bank reported profits of £13.2bn ($18.8bn) for 2015 and a £7.3m pay deal for its chief executive, and Stuart Gulliver,it disclosed that the monitor refused to sign off on the group’s progress in toughening up its procedures to avoid a re-run of the 2012 scandal for which it was fined £1.2bn. Related: UK bank pay and bonuses in the highlight as results season starts Continue reading...
Source: theguardian.com