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Tuesday 24th July 2012 | 13:58
Chris Leslie MP, Labour’s Shadow Financial Secretary to the Treasury, responding to Lord Green’s response to his letter about HSBC, said:
“It is right that Lord Green has now expressed regret for the failures of HSBC to prevent money laundering during his time as chief executive and chairman. But his letter totally fails to address the detailed questions about what he knew and when about these very serious issues.
“As a British Minister, an adviser to George Osborne on banking and a member of the Cabinet Committee on banking reform, he is accountable first and foremost to Parliament. He cannot and should not hide behind ‘continuing discussions between HSBC and the US authorities’ as a reason for failing to answer questions.
“The House of Lords remains in session. He must now come to Parliament and explain what he knew, when he knew it and what action he took.”