Senate to grill HSBC’s execs

City A.M. Reporter
HSBC executives are set to face the US Senate today to answer questions on the bank’s money laundering controls.

A Senate committee last night published a scathing report following a year-long inquiry into HSBC’s efforts to stop illegal money flows between its US and international offices.

Politicians are due to question bank staff and regulators today. HSBC chief exec Stuart Gulliver has said the bank will “acknowledge and apologise” for its shortcomings.