Today there was a Treasury Select Committee hearing with the Financial Conduct Authority to question them on their decision to drop an investigation into banking culture. SNP MP George Kerevan also questioned Tracey McDermott, acting CEO, on how they can claim to have improved their regulation of individual banks when they had failed to act on the HSBC fraud I am disclosing, and the Complaints Commissioner’s decision on my complaint against the FCA.
Tracey McDermott batted away criticism by stating that my original report related to a subsidiary of HSBC, HFC Bank, which was no longer trading. However, what she neglected to tell the Committee is that there is a current complaint against HSBC, for exactly the same fraud, in the name of John Lewis Financial Services Limited, another subsidiary of HSBC. It seems the FCA is still protecting HSBC.
Here is the clip of the hearing: