HSBC Financial News

Rothschild, HSBC, and Slaughter and May are among the top City firms where women's earnings still pale in comparison to their male counterparts', an analysis of UK government data by Financial News reveals.

In recent months, NatWest, HSBC, Nationwide Building Society and Santander have all placed restrictions on customers buying cryptocurrency, citing regulatory concerns and the risk of scams.In a letter to Economic Secretary to the Treasury Andrew Griffith, CryptoUK says that blanket bans and restrictions "will have the effect of fundamentally undermining the Government’s ambition to become a crypto asset hub and its mission to maximise the potential of Web3 to spur UK growth and innovation".The trade association says that government action is warranted because banks are putting in place these blanket restrictions instead of take a risk-based and case-by-case approach.The letter suggests government bringing bank and crypto CEOs together to find a "viable solution", with one option being the creation of a white list of platforms that "have engaged with the UK’s regulatory perimeter (either through AML registration or other EMI/MiFid licenses), to which transactions should be allowed to take place freely".In a separate letter to the FCA and Payment Systems Regulator, CryptoUK says that while it accepts that the regulators may not wish to intervene in the commercial decision of bank, "in this case we believe action is warranted because of the blanket approaches that have been taken".

The prolonged period of loose monetary policy after the global financial crisis equated to central banks «nationalizing bond markets,» and meant policymakers were slow off the mark in containing inflation over the past two years, according to HSBC Senior Economic Adviser Stephen King.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Bim Afolami MP is a former HSBC executive, corporate lawyer at Freshfields Bruckhaus Deringer, and chairs the All-Party Parliamentary Group for Financial Markets and Services

HSBC has shaken up the senior ranks of its investment bank following the appointment of Greg Guyett as the sole head of its global banking and markets unit last year.

On March 10, the activities of Silicon Valley Bank UK were terminated by order of the Bank of England (BoE), which said that the bank did not provide any «critical services» in support of the financial system. Once this event occurred, HSBC purchased the bank for the very cheap price of one pound. But, just a few days following the purchase, HSBC gave its approval for bonuses of several millions of pounds to be given to workers and top executives of Silicon Valley Bank UK.

In recent months, NatWest, HSBC, Nationwide Building Society and Santander have all placed restrictions on customers buying cryptocurrency, citing regulatory concerns and the risk of scams. In a letter to Economic Secretary to the Treasury Andrew Griffith, CryptoUK says that blanket bans and restrictions "will have the effect of fundamentally undermining the Government’s ambition to become a crypto asset hub and its mission to maximise the potential of Web3 to spur UK growth and innovation".

Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, a recent report revealed.

Some of HSBC’s largest shareholders have thrown their support behind its move to buy Silicon Valley Bank's UK arm, saying it will boost the lender's presence in one of the highest-growth areas in the economy.

The future of the UK's technology businesses in "safe" in HSBC's hands, Chancellor Jeremy Hunt has said, after the lender's rescue deal for Silicon Valley Bank's UK business.

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HSBC plans to cut salaries for some newly-promoted managing directors by up to 25% in the latest sign that the planned scrapping of the UK bonus cap could prompt banks to upheave pay.

In 2016, HSBC executive Stuart White embarked on what most would view as an impossible journey — he and his four younger brothers decided to channel their grief over the loss of their grandmother into the six‑day-long Marathon des Sables.

NatWest says that cryptocurrency scams cost Brits £329 million a year, noting that crypto is not protected by the UK’s Financial Services Compensation Scheme and most providers aren’t regulated by the FCA.Stuart Skinner, head, fraud protection, NatWest, says: “We have seen an increase in the number of scams using cryptocurrency exchanges and we are acting to protect our customers.” Earlier this month, HSBC and Nationwide Building Society put similar restrictions on customers buying cryptocurrency, citing regulator concerns about the practice.

The government is set to grill the Bank of England over why HSBC was chosen to rescue the UK arm of collapsed lender Silicon Valley Bank.

It’s been another eventful week in fintech – not least for the thousands of startup founders whose cash was tied up in Silicon Valley Bank.

British startup founders are preparing to significantly lower their exposure to Silicon Valley Bank after the failed technology lender’s UK arm was narrowly rescued from insolvency via a buyout by HSBC on 13 March.

LONDON — U.K. startups are breathing a sigh of relief Monday, after HSBC announced it would buy a subsidiary of collapsed U.S. tech startup lender Silicon Valley Bank.

The Silicon Valley Bank fallout has ripple effects on Chinese startups, particularly those backed by U.S. dollar-denominated funds.

Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers.