Update – 20 August 2016
It has now been revealed in a US House of Representatives report that not only did George Osborne write to the Chairman of the Federal Reserve, Ben Bernanke (as widely reported) to lobby him against prosecuting HSBC in the US, he actually had a meeting with him for that purpose (not reported anywhere, that I can see):
I have previously written about Cameron’s connections with HSBC. Today I have become aware of some deep Osborne connections too. HSBC, through their vice-Chair Simon Robertson have donated substantial sums to the Tory party and £100,000 to George Osborne personally:
In 2015 Osborne cut the bank levy at the behest of HSBC who had threatened to move abroad, HSBC having moved its AGM from the usual May to April, prior to the general election. This was followed by the FCA, under the auspices of Osborne’s Treasury, dropping an investigation into HSBC tax evasion in Switzerland and in inquiry into banking culture. Osborne also softened the legislation of the Senior Managers Regime which originally intended that bank bosses were automatically liable for any wrongdoing. That provision scrapped, again after threats from HSBC.
Osborne’s old school friend James Harding is Director of News at the BBC and Cameron corruptly appointed HSBC director and previous Harding colleague, Rona Fairhead as Chair of BBC Trust. The BBC do not report negative stories about HSBC.
Osborne is a beneficiary of a family trust which owns at least 15% in family firm Osborne and Little. Osborne and Little bank with HSBC and have a £1.75m overdraft facility with the bank: