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25 Jan 2012 10:14

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Biz: HSBC faces money-laundering investigation in Senate

  • A big company with big problems: Reuters is reporting that HSBC is facing some tough allegations in the Senate, with the company reportedly getting investigated for its role in sketchy money-laundering practices. Reuters reports that while the scale of the investigation isn’t known, signs point to breakdowns in the company’s anti-money-laundering systems. In response to the Senate allegations, the company’s spokesman responded: “We have ongoing discussions with officials on a number of regulatory and compliance matters. The nature of these discussions is confidential; in all cases, we are cooperating.” Read more at the link. (awesome, incredibly fitting photo by Flickr user Will Survive) source

28 Feb 2010 10:39

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Biz: HSBC’s CEO decides to give his massive bonus to charity

  • $6.1M the size of HSBC chief executive Michael Geoghegan’s bonus this year – four times his salary
  • 100% the amount he plans to give to charity after a row over bank bonuses source