Midweek Roundup: HSBC’s Offices Raided By Swiss Police, Irish Banks Must Improve AML Efforts, and More

In a full-page advertisement published Sunday by some British newspapers, HSBC chief executive Stuart Gulliver apologized to customers and shareholders amid reports that the bank's Swiss subsidiary hid as much as $120 billion in undeclared wealth for thousands of international clients, the BBC reported. More Former HSBC chairman Stephen Green resigned from London-based financial services industry group TheCityUK following reports of the Swiss subsidiary's offshore banking practices under his supervision, the Financial Times reported Friday. Green left the bank in 2010 to serve as a trade minister with U.K. Prime Minister David Cameron's government. More Swiss police raided two of...