hsbc

Leading fund managers including Richard Buxton at Schroders have been increasing their exposure to major UK banks following the LIBOR scandal which has rocked the sector.

A US Senate investigation has uncovered how a "pervasively polluted" culture at HSBC and lax controls left it open to being used to launder dirty money from around the world.

HSBC has revealed it faces a hefty fine - estimated at $1bn by analysts - from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.

UK banking giant HSBC is planning to apologise to the US Senate following an investigation earlier this year into money laundering.

With banks hitting the headlines for all the wrong reasons, Joanna Faith asks financials managers whether the recent volatility has provided a good buying opportunity or whether there is better value elsewhere.

The reputation of the UK banking sector hit a new low last week after the FSA hit Barclays with its largest ever fine of £59.5m for breaching LIBOR regulations.

Barclays, HSBC, Lloyds and RBS have agreed settlements with the FSA after the regulator found "serious failings" in their sales of interest rate hedging products.

RBS and Lloyds, the two UK tax-payer backed banks, are among a dozen financial groups being investigated for manipulating the LIBOR rate, which resulted in a record £290m regulator fine for Barclays, it was revealed yesterday.

CIO Plamen Monovski tells Katie Holliday about his firm's ‘Indiana Jones' approach to investing and his ambitious plans to grow the business.

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