On Tuesday 31 October I attended the hearing held by the Treasury Select Committee with the Financial Conduct Authority. I wished to bring attention to the corruption surrounding HSBC dealing with Saudi Arabia and the proposed flotation of its state oil company Saudi Aramco. I was, of course, thrown out. Following my (censored) intervention, MP Alison MsGovern asked the CEO of the FCA, Andrew Bailey the question above.
Below is an extract from a Daily Telegraph article about May’s meeting. It is common knowledge that May had had such discussions in Saudi Arabia. What is Bailey trying to hide?
Considering Bailey had a meeting himself with Saudi Aramco in January, it is inconceivable that he didn’t know about May’s meeting in April.
Following the meetings with Bailey and May it was announced (24 April) that HSBC had been appointed advisers on the IPO
The FCA is supposed to be investigating HSBC consumer debt fraud. In July it was announced that the FCA intended to relax the listing rules to enable the Aramco IPO to take place in London
Since writing this blog I have had an exchange of correspondence with Andrew Bailey: