{"id":6831,"date":"2012-08-13T11:15:45","date_gmt":"2012-08-13T10:15:45","guid":{"rendered":"http:\/\/www.ethicalquote.com\/?p=6831"},"modified":"2012-08-13T11:19:34","modified_gmt":"2012-08-13T10:19:34","slug":"hsbc-2","status":"publish","type":"post","link":"https:\/\/www.covalence.ch\/index.php\/2012\/08\/13\/hsbc-2\/","title":{"rendered":"HSBC chairman vows to put ethics at heart of sales"},"content":{"rendered":"<p><a href=\"http:\/\/www.ftadviser.com\/2012\/08\/13\/ifa-industry\/product-providers\/hsbc-chairman-vows-to-put-ethics-at-heart-of-sales-gnAd9bgjMNmc3Zo4MyIp0J\/article.htmle.com\/wp-content\/uploas\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-6834\" title=\"HSBC chairman vows to put ethics at heart of sales\" src=\"http:\/\/www.ethicalquote.com\/newTemplate\/wp-content\/uploads\/2012\/08\/120813_hsbc.jpg\" alt=\"\" width=\"200\" height=\"130\" \/><\/a>In the wake of furore over terrorist links and money laundering  controls failings that have cast a cloud over banking group HSBC, its  chairman has vowed to change the way business is done by reducing  complexity and implementing a more stringent set of global standards. The  bank was recently chastised by a US senate committee for failing to do  proper anti-money-laundering checks and disregarding clients\u2019 terrorist  links, which led to HSBC issuing an apology and its compliance head  stepping down. In the bank\u2019s interim report on the London Stock  Exchange, HSBC group chairman Douglas Flint said the bank\u2019s failings  were \u201cextremely frustrating and infuriating\u201d and promised deep  structural and cultural changes. A new, more rigorous set of  standards will enhance risk management controls \u201cto prioritise behaviour  and values\u201d, particularly around ethical sales practices. He  said: \u201cIt means that where we conclude that any customer or potential  customer poses an unacceptable reputational risk &#8211; or otherwise does not  meet our standards &#8211; we should exit or avoid the relationship. <a href=\"http:\/\/www.ftadviser.com\/2012\/08\/13\/ifa-industry\/product-providers\/hsbc-chairman-vows-to-put-ethics-at-heart-of-sales-gnAd9bgjMNmc3Zo4MyIp0J\/article.html\" target=\"_blank\">More&#8230;<\/a><\/p>\n<p>News selected by Covalence | Country: Global |  Company: HSBC\u00c2\u00a0 | Source: <a href=\"http:\/\/www.ftadviser.com\/2012\/08\/13\/ifa-industry\/product-providers\/hsbc-chairman-vows-to-put-ethics-at-heart-of-sales-gnAd9bgjMNmc3Zo4MyIp0J\/article.html\" target=\"_blank\">Financial Times<br \/>\n<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of furore over terrorist links and money laundering controls failings that have cast a cloud over banking group HSBC, its chairman has vowed to change the way business is done by reducing complexity and implementing a more stringent set of global standards. The bank was recently chastised by a US senate committee&hellip;<\/p>\n","protected":false},"author":665,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"wds_primary_category":0,"wds_primary_post_series":0,"footnotes":""},"categories":[1],"tags":[73],"post_series":[],"class_list":["post-6831","post","type-post","status-publish","format-standard","hentry","category-news","tag-hsbc","entry","no-media"],"_links":{"self":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/6831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/users\/665"}],"replies":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/comments?post=6831"}],"version-history":[{"count":0,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/6831\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/media?parent=6831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/categories?post=6831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/tags?post=6831"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/post_series?post=6831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}