hsbc

HSBC is closing accounts on Jersey belonging to customers living in the UK amid checks on their identity and addresses.

Financial services has witnessed a number of famous apologies over the years linked to fraud, rogue trading, and even train fare dodging. Investment Week remembers the most notable, and the ones which never were.

HSBC's senior executives have apologised to a committee of MPs for the failings in its Swiss private banking arm which meant clients avoided paying millions in tax.

HSBC's chairman has said the bank "deeply regrets" the "unacceptable" practices within its Swiss private bank which allowed clients to avoid tax, and plans to sell off parts of the business following disappointing 2014 results.

Old Mutual Global Investors income manager Stephen Message is running one of the largest overweights to financials in his sector, in the expectation UK banks are set to return cash to shareholders.

The Financial Conduct Authority (FCA) was "not aware" of allegations HSBC helped wealthy clients evade millions in tax until they appeared in the media, chief executive Martin Wheatley has told MPs.

HSBC is facing investigations at home and abroad following allegations that it colluded with Swiss clients to help them dodge tax.

Banking giant HSBC helped wealthy clients dodge paying millions in tax to UK authorities, the BBC has reported.

Simon Gergel, manager of The Merchants trust, explains why he is finding opportunities in mega caps and specific recovery situations.

Banking stocks have underperformed at a time when they should be considered a prime investment. Instead, pseudo-banks are emerging as the real game-changers, says Walker Crips' Chris Kitchenham