HSBC Chairman: Cross-Border Resolutio...

HSBC Chairman: Cross-Border Resolution "Missing Piece" In Bank Reform

There are 1 comment on the Fox News story from Feb 7, 2012, titled HSBC Chairman: Cross-Border Resolution "Missing Piece" In Bank Reform. In it, Fox News reports that:

A framework for the orderly management of the of the collapse of a big bank operating in different countries is the missing piece of global efforts at reforming financial regulation, HSBC Holdings PLC Group Chairman Douglas Flint said Tuesday.

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Michael Mason-Mahon


#1 Feb 7, 2012
A complaint has been registered with the Financial Services Authority in London concerning the Chairman of HSBC PLC. This complaint is about the Chairman giving false and misleading information to shareholders at the 2011 AGM.
I do believe that the Chairman's actions at the AGM did breach LR 1.3.2 and LR 1.3.3 of the Listing Principles.

FSA has had this complaint since 14 September, should the FSA state it is investigating the Chairman of HSBC PLC?
Below are the reasons why we think that the FSA should inform the market.
6.3 Where it is investigating any matter, the FSA will, in exceptional circumstances, make a public announcement that it is doing so if it considers such an announcement is desirable to:
(1) maintain public confidence in the financial system or the market; or
(2) protect consumers or investors; or
(3) prevent widespread malpractice; or
(4) help the investigation itself, for example by bringing forward witnesses; or
(5) maintain the smooth operation of the market.

The FSA should tell the markets it is investigating the Chairman (Mr Flint) for giving FALSE and MISLEADING information to Shareholders at the 2011 AGM

False and Misleading information concerning the number of complaints registered.

April 09 to March 10 No. Complaints received 58,851, April 10 to March 11 No. Complaints received 35,347. The Chairman state it would be down by 2/3.Was this true?

Did he tell the truth about the complainants in India?

Take a look at the front page of the Citywire Money website -

Once again attended AGM on the 27 of May 2011 where again I stated my concern about HSBC India and its behaviour towards their customers.

You may first like to go to HSBC AGM, go to questions and answers 40:11 min's in then go to Resolutions 19:02 min's in. As you will see Mr Flint could not get his facts right or was he misleading shareholders or was this just another weakness by the Chairman. The information the Chairman gave about customers complaints in India was not totally true.

This link is the evidence and please see for yourself the behaviour of the Chairman of HSBC PLC.

The Chairman stated that is was a invidious irritation to customers when they were registered on CIBIL.

It is not an invidious irritation, it prevents a person from borrowing from any other lender, it has a very serious impact on that person and their lives.

Did the Chairman trivialise their complaints or was he trying to belittle the complainants in India?

Is this Chairman just ignorant to what it means when a person is registered on CIBIL or did the Chairman deliberately give false and misleading information to shareholders and the AGM?

The Chairman states “maintaining our reputation and our integrity”
“Everything we do is governed by the imperative of upholding HSBC’s corporate reputation and character at the highest level”.

Did the current Chairman ( Mr Flint) LIE about complaints in India and did he CHEAT shareholders of the truth at the 2011 AGM?

Is HSBC Holdings PLC under investigation by a U.S. Senate panel in a money-laundering inquiry?

Ask the 490,000 Customers in India who have REGISTERED COMPLAINTS between 2006-2011 what they THINK about HSBC'S REPUTATION, INTEGRITY and CHARACTER and what HSBC.

The Hongkong and Shanghai Banking Corporation Limited in India, has it LIED, has it CHEATED and has it FALSLEY registered and misused CIBIL?

This is what customers and non-customers in India is complaining what they have done to them.

How can anyone believe anything this Chairman says.
Should he still be the Chairman? YOU DECIDE.

Michael Mason-Mahon
E-mail: [email protected]
Mobile: 0044 7834763544

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