Lord Campbell-Savours
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Banking System
Lord Campbell-Savours Excerpts(9 years, 3 months ago)
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Lord Newby
My Lords, I think that all those involved in banking before the crash adopted laxer standards than they now accept are necessary. I know from discussions that I have had with senior representatives of HSBC before today that the new regulatory regime is far more intrusive and has been forcing them to address the way they do business in a manner which I am sure all noble Lords will welcome.
Lord Campbell-Savours (Lab)
My Lords, should not those who ran HSBC when it was selling tax evasion packages be held to account? By whom should they be held to account?
Lord Newby
My Lords, there are several elements of holding people to account. I think the shareholders need to hold them to account. If there has been any criminal wrongdoing it is obviously for the police and prosecuting authorities in the relevant jurisdictions to pursue those matters.