Company Directory - HSBC Holdings plc
Company Details - HSBC Holdings plc
HSBC Holdings plc
WebsiteLondon, United Kingdom
HSBC Holdings plc is a British multinational banking and financial services holding company headquartered in London, United Kingdom. It is one of the world’s largest banking and financial services organizations, providing a wide range of services including retail, commercial, and investment banking, as well as wealth management and global markets services.
CCI Score
CCI Score: HSBC Holdings plc
9.20
Latest Event
HSBC Presses for Easing of China Business Clampdown
HSBC, along with Standard Chartered, is reported to have lobbied the UK government and urged Prime Minister Sunak to ease a proposed clampdown on business with China. This effort highlights the bank's use of political lobbying to potentially shield its commercial interests and undermine regulatory measures aimed at addressing national security and transparency concerns.
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OBJECTOR
HSBC Holdings plc is currently rated as an Objector.
Latest Events
- MAY102024
HSBC, along with Standard Chartered, is reported to have lobbied the UK government and urged Prime Minister Sunak to ease a proposed clampdown on business with China. This effort highlights the bank's use of political lobbying to potentially shield its commercial interests and undermine regulatory measures aimed at addressing national security and transparency concerns.
-40
Political Contributions and Lobbying Efforts
March 17
HSBC's lobbying efforts to influence UK policy on business with China suggest a prioritization of corporate interests over regulatory safeguards and transparency measures. By pressuring the government to ease restrictions, the bank is contributing to an erosion of policy accountability that may indirectly support authoritarian practices, thereby exhibiting complicity in the broader context of weakening democratic oversight.
HSBC, Standard Chartered press Sunak to ease proposed clampdown on China business
- MAY092024
HSBC, along with Standard Chartered, has lobbied UK Prime Minister Rishi Sunak to relax regulations affecting its operations in China. This maneuver is seen as an exertion of corporate political influence, raising concerns about the undermining of democratic regulatory oversight in favor of corporate profits.
-60
Political Contributions and Lobbying Efforts
March 17
By actively pressuring the government to ease clampdowns on its China business, HSBC demonstrates a willingness to leverage political influence to essentially buy more favorable regulatory conditions. This kind of lobbying activity prioritizes corporate profit over public accountability, contributing to concerns about complicity in authoritarian policies where corporate power undermines democratic processes.
HSBC, StanChart Press Sunak to Ease Clampdown on China Business
- JAN012024
HSBC has significantly invested in integrated technology and advanced analytics to detect and prevent financial crime, thereby upholding ethical standards and ensuring financial integrity.
+80
Technology and Services Impact
March 17
HSBC's aggressive investment in advanced analytics, machine learning, and integrated monitoring systems for detecting suspicious transactions represents a proactive and ethical use of technology. By leveraging these systems to fight financial crime while maintaining a robust ethical framework, HSBC demonstrates a commitment to societal accountability and transparency, which contrasts with the deployment of repressive technologies by authoritarian regimes.
- JAN012024
HSBC has significantly upgraded its IT infrastructure and integrated advanced analytics to monitor 900 million transactions each month for signs of financial crime. This initiative underlines their commitment to using technology ethically to protect the integrity of the financial system and support law enforcement efforts.
+70
Technology and Services Impact
March 17
HSBC is leveraging innovative technology, including advanced analytics and machine learning, to improve its detection of financial crime. This ethical use of technology is a positive countermeasure against criminal financial behavior and contributes to maintaining financial system integrity, distinguishing it from companies that might use technology for repressive means.
- JAN012024
HSBC North America's PAC, as profiled by OpenSecrets, contributed a total of $17,000 in the 2023-2024 cycle, with 70.59% of funds supporting Democratic candidates and 29.41% supporting Republicans. This data highlights the bank's strategic political spending and its use of corporate PAC funds in influencing U.S. elections, which is relevant in understanding its role in political engagement and potential complicity in broader authoritarian dynamics.
+20
Public and Political Behavior
March 17
The contribution profile indicates that HSBC North America directs a significant portion of its PAC funds toward political candidates, with a notable preference for Democratic candidates (70.59%) over Republican candidates (29.41%). While this distribution may mitigate direct support for far-right authoritarian policies, the reliance on corporate PAC contributions as a means of political influence remains a concern. This activity falls under the 'Public and Political Behavior' category and suggests moderate political engagement that, although not overtly supporting authoritarianism, still raises questions about the influence of corporate money in politics.
- OCT012023
HSBC is taking proactive measures to fight financial crime by investing in advanced technology, education, and risk management. This effort underlines its commitment to ethical business practices and contributes to a more transparent financial system.
+80
Business Practices and Ethical Responsibility
March 17
HSBC's significant investments in risk management, technology, and educational initiatives to combat financial crime reflect a strong commitment to ethical business practices. This proactive approach helps safeguard customers and enhances the integrity of the financial system, demonstrating a positive stance against corruption and financial misconduct.
+70
Technology and Services Impact
March 17
The article highlights HSBC's investment in advanced technology to defend against increasingly sophisticated financial crimes. This defensive use of technology serves public interests and reinforces the bank's commitment to protecting its customers, distinguishing it from companies that provide repressive technologies.
- JAN172022
Legislators from across the EU, UK, India, Australia and Canada have called for government action after revelations that HSBC invested in Xinjiang Tianye—a company tied to the XPCC, which is implicated in forced labour, torture and other human rights violations against Uyghurs. This investment is seen as financial complicity in underpinning authoritarian abuses.
-85
Labor Relations and Human Rights Practices
March 17
HSBC’s purchase of shares in Xinjiang Tianye links the bank directly to a firm owned by the XPCC—a state-backed entity that operates coercive labour transfer programmes and has been implicated in forced labour, torture, and other severe human rights abuses. This investment appears to ignore ethical responsibilities towards labour relations and human rights.
IPAC Parliamentarians Call for Crackdown on HSBC Financing of Uyghur Abuses
-75
Economic Collaboration
March 17
By investing in Xinjiang Tianye, HSBC is indirectly supporting the economic framework of the XPCC—a paramilitary conglomerate that facilitates systematic human rights abuses in the Uyghur Region. This economic collaboration with a state-linked entity demonstrates a troubling alignment with regimes engaged in authoritarian practices.
IPAC Parliamentarians Call for Crackdown on HSBC Financing of Uyghur Abuses
Alternatives
Mumbai, India
-43.33
London, United Kingdom
-17.60
New York, USA
25.94
Tokyo, Japan
23.10
Paris, France
4.66
Charlotte, United States
-20.11
Corporation
-25.19
London, United Kingdom
-18.12
Singapore, Singapore
73.81
Bangkok, Thailand
61.26
Industries
- 522110
- Commercial Banking
- 524210
- Insurance Agencies and Brokerages
- 523110
- Investment Banking and Securities Dealing
- 523930
- Investment Advice
- 523920
- Portfolio Management
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