HSBC executives face the prospect of being called to appear before a US congressional hearing this year as part of a Senate investigation into allegations the bank was involved in money-laundering.
The Senate Permanent Subcommittee on Investigations is looking into HSBC's involvement in the movement of money linked to illegal groups as part of a long-running inquiry into global banks and money-laundering.
No time frame has been given for the Committee's work, but a full report and a hearing could come later this year, according to reports.
A spokesman for HSBC said: "We support US efforts to strengthen anti-money laundering defences and protect the integrity of the financial system through our rigorous new internal processes and close working partnership with regulators."
HSBC has already disclosed it is in discussions with the US authorities and has said it is "co-operating" with all the inquiries. This month, the bank hired Stuart Levey, a former US Treasury Department official, as its chief legal officer.
Source: The Telegraph
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