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Unethical Corporate Governance (Hsbc Case)

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Submitted By sipa86
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Unethical Corporate Governance
(HSBC Money Laundering Case: “Too Big to Fail” does not mean “Too Big to Jail”)

About HSBC
HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is one of the world’s largest banking and financial services organizations. In 1865, the first branches of the bank were first opened in Hong Kong and Shanghai. HSBC is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited. In 1991, it was founded in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company. The company refers to both the United Kingdom and Hong Kong as its "home markets".
HSBC has around 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North America and South America, and around 89 million customers. As of 31 December 2013, it had total assets of $2.671 trillion, of which roughly half were in Europe, the Middle East and Africa, and a quarter in each of Asia-Pacific and the Americas. As of 2012, it was the world's largest bank in terms of assets and sixth-largest public company, according to a composite measure by Forbes magazine (Witty Traders, 2014).
HSBC consists of four business groups: * Commercial Banking; * Global Banking and Markets (investment banking); * Retail Banking and Wealth Management; * Global Private Banking.
HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index. As of 6 July 2012 it had a market capitalization of £102.7 billion, the second-largest company listed on the London Stock Exchange, after Royal Dutch Shell. It has secondary listings on the New York Stock Exchange, Euronext Paris and the Bermuda Stock Exchange. As at March 31, 2014, HSBC Holdings became the…...

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