Asked by: James Wild (Conservative - North West Norfolk)
Question to the Department for Education:
To ask the Secretary of State for Education, pursuant to the oral answer of 9 September 2024 from the Secretary of State for Education, Official Report column 551, whether she has asked the Office for Students to look into reports regarding the operation of Peking University HSBC Business School in Oxford.
Answered by Janet Daby - Parliamentary Under-Secretary (Department for Education)
As my right hon. Friend, the Secretary of State for Education outlined in her response of 9 September, decisions relating to the conditions of registration and requirements of higher education (HE) providers in England are a matter for the Office for Students (OfS) as the independent regulator.
In order to meet the regulatory requirements of the OfS, English HE providers must uphold applicable public interest governance principles. These include principles on free speech, academic freedom and accountability, such as operating openly and with integrity. As such providers are responsible for ensuring they have adequate governance and risk management procedures in place, including on the acceptance of donations.
The OfS has informed the department that it is engaging with relevant parties as appropriate to understand the issues that have been raised regarding the operation of Peking University HSBC Business School UK Campus (PKBS-UK). PKBS-UK is a registered HE provider in the ‘approved’ category, which means the provider is not eligible for certain grants including eligibility for OfS teaching grant funding or any other OfS payments under sections 39 or 40 of the Higher Education and Research Act (HERA).
As outlined in its regulatory framework, if the OfS identifies a breach of a specific or general ongoing condition of registration as part of its enquiries, then it will consider the use of formal sanctions, which may include monetary penalties, suspension from the register or deregistration.
This government has committed to an audit of the UK’s relationship with China to improve its ability to understand and respond to the challenges and opportunities it poses. This will guide a consistent and coherent approach to relations with China rooted in UK and global interests.
Mentions:
1: Emma Reynolds (Lab - Wycombe) Bank US parent entity, is not entitled to compensation following the transfer of the bank’s shares to HSBC - Speech Link
2: Kit Malthouse (Con - North West Hampshire) Monday, the Bank had changed its tune and was going for what has now resulted, which is the sale to HSBC - Speech Link
3: Kit Malthouse (Con - North West Hampshire) bank over the weekend that the strategy was changed to a resolution and the bank was transferred to HSBC - Speech Link
Mar. 26 2025
Source Page: Afolami, Bim - Economic Secretary to the Treasury - ACOBA AdviceFound: Paid appointment with HSBC UK Bank Plc. 1.
Jul. 25 2024
Source Page: CMA letter to HSBC about breaching Part 7 of the Retail Banking OrderFound: CMA letter to HSBC about breaching Part 7 of the Retail Banking Order
Mentions:
1: Lord Livermore (Lab - Life peer) shareholder of SVB UK is not entitled to compensation following the transfer of the bank’s shares to HSBC - Speech Link
2: Baroness Kramer (LD - Life peer) The Bank of England report on the transfer of Silicon Valley Bank UK to HSBC argues clearly and logically - Speech Link
3: Baroness Neville-Rolfe (Con - Life peer) no compensation is due to shareholders of Silicon Valley Bank UK Ltd on the transfer of shares to HSBC - Speech Link
Mentions:
1: Emma Reynolds (Lab - Wycombe) used its transfer powers under the Banking Act 2009 to effect the sale of Silicon Valley Bank UK to HSBC - Speech Link
2: Emma Reynolds (Lab - Wycombe) public funds been required to facilitate the sale of SVB to another purchaser—in this case it was HSBC - Speech Link
3: Mark Garnier (Con - Wyre Forest) Although the Bank of England had initially planned to use insolvency procedures, HSBC emerged as a buyer - Speech Link
4: Kit Malthouse (Con - North West Hampshire) I really want to understand what value was placed on that bank going to HSBC, as opposed to any of the - Speech Link
5: Torsten Bell (Lab - Swansea West) Silicon Valley Bank was well capitalised, and it was possible to find a willing buyer in HSBC. - Speech Link
Jan. 29 2025
Source Page: Huddersfield Golf Tech Firm Tees Up for International SuccessFound: Financing was provided by HSBC UK, with government backing from UK Export Finance.
Mar. 26 2025
Source Page: Afolami, Bim - Economic Secretary to the Treasury - ACOBA AdviceFound: Staff and Strategy, Acrisure, LLC HTML Advice Letter: Bim Afolami, Non Executive Director, HSBC
Written Evidence Feb. 05 2025
Inquiry: Pensioner poverty – challenges and mitigationsFound: Campaign PPCM0015 The Midland Clawback Campaign has been campaigning against the disparity in our HSBC
Feb. 17 2025
Source Page: John Flint to step down as National Wealth Fund CEO in the summerFound: Previously Flint was Group Chief Executive of HSBC.