The Financial Conduct Authority ( FCA ) has shelved another banking inquiry , as it is revealed that an investigation into alleged allegations of tax - evasion by HSBC has been launched , just days after it scrapped its probe into its behaviour and culture . Reports indicate that fears are beginning to rise again that ministers and regulators in Britain are becoming more lenient towards banks as the economy recovers . The move seems to be in contrast to regulators outside the UK , who have taken a more aggressive approach ; Swiss authorities fined it last year £ HSBC is currently reviewing whether to keep its headquarters in the UK, where it has been based since the early 1990s following the takeover of Midland Bank. 28 m after money fraud was discovered in its Swiss unit .
The Financial Conduct Authority ( FCA ) has shelved another banking inquiry , as it is revealed that an investigation into alleged allegations of tax - evasion by HSBC has been launched , just days after it scrapped its probe into its behaviour and culture . Reports indicate that fears are beginning to rise again that ministers and regulators in Britain are becoming more lenient towards banks as the economy recovers . The move seems to be in contrast to regulators outside the UK , who have taken a more aggressive approach ; Swiss authorities fined it last year £ 28 m after money fraud was discovered in its Swiss unit .