Tag Archives | HSBC

HSBC, Panama: “Exit, stage right”

6 March 2013 in Americas, Private sector

The moral relativism that traditionally infects multinationals in hot, corrupt countries is going out of style.”  This is according to Jonathan Guthrie of the Financial Times, in discussing the decision of HSBC to close down its operations in Panama (Corruption Perceptions Index score in 2012: 38 out of 100).  The decision was  purportedly to increase […]

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Is the G20 serious about fighting corruption?

12 December 2012 in Financial Markets, G20, Politics and government, Private sector

In the past weeks we have witnessed a great deal of news surrounding issues of transparency and accountability of multinational companies. In the UK, several international corporations including Starbucks, Google, and Amazon, have been questioned in Parliament over the little corporation tax they pay despite their large UK accounts. Tax evasion is facilitated by the […]

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Will billions in fines alone make banks respect the rules?

11 December 2012 in Accountability, Financial Markets

How banks implement international financial sanctions may not strike many as the sexiest news story of the day, but its importance comes alive when one remembers that holding a banking license and taking deposits from the public at large is not a right, but a privilege. It is bestowed on certain companies by the public […]

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G20 must address financial integrity as corruption surges through major banking

31 July 2012 in Financial Markets, G20, Private sector

Allegations of insider trading at Nomura, money laundering at HSBC, interest rate manipulation at Barclays – it’s one scandal after another! Some say mega-banks are too complex to manage and control, others blame bad management, still others say the culture is rotten. Corruption abounds. Greed, secrecy, arrogance, lack of a moral compass, and opportunity all […]

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Where do Multinational Corporations go on their holidays?

25 July 2012 in Accountability, European Union, Private sector

…and how much money do they spend when they get there? Despite their global reach, Transparency International’s recent Transparency in Corporate Reporting report – which assesses 105 multinational companies’ anti-corruption reporting –  shows that these companies reveal very little information about their financial and non-financial contribution to the countries in which they operate. The European […]

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