Shares in HSBC , the UK 's biggest bank, rose by almost 2% after the US Department of Justice said it would file papers to dismiss a deferred prosecution agreement (DPA) that had been suspended for effectively than five years ago . The DPA was imposed following allegations that HSBC 's lax controls had allowed money laundering to take place. Concerns were raised by former Labour cabinet minister Peter Hain, and HSBC said it had closed bank accounts held by “front companies” associated with the Guptas. As part of the DPA , UK lawyer Michael Cherkasky monitored HSBC 's activities, and will continue to do so until July 2018 , while outgoing CEO Michael Cherkasky said the progress made at the bank meant it could combat fraud more five years .
Shares in HSBC , the UK 's biggest bank, rose by almost 2% after the US Department of Justice said it would file papers to dismiss a deferred prosecution agreement (DPA) that had been suspended for effectively than five years ago . The DPA was imposed following allegations that HSBC 's lax controls had allowed money laundering to take place. As part of the DPA , UK lawyer Michael Cherkasky monitored HSBC 's activities, and will continue to do so until July 2018 , while outgoing CEO Michael Cherkasky said the progress made at the bank meant it could combat fraud more five years .