HSBC is 'cast-iron certain' to breach banking rules again, executive admits

Exclusive Bank’s global head of sanctions told monitors in private meeting that HSBC’s size made large-scale regulatory breaches a virtual inevitability

HSBC said it did not recognise the comments in the recording. Photograph: Felix Clay for the Guardian

Stuart Gulliver appearing before a parliamentary committee in February. Photograph: Reuters

A Harry Davies and James Ball-Thursday 2 April 2015
senior HSBC executive has privately admitted that the bank is “cast-iron certain” to have another major regulatory breach in the future, and is struggling on multiple fronts to clean up its worldwide operations.
HSBC is 'Cast-iron Certain' to Breach Banking Rules Again, Executive Admits by Thavam Ratna