Interest 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 five years . The DPA was imposed following allegations that HSBC 's lax controls had allowed money laundering to take place . As part of the investigation , US lawyer Michael Cohen monitored HSBC 's activities , and will continue to do so until July 2018 , while outgoing CEO Stuart Smith said the progress made at the bank meant it could combat fraud more effectively than five years ago .
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 five years. The DPA was imposed following allegations that HSBC's lax controls had allowed money laundering to take place. As part of the DPA, US lawyer Michael Cherkasky monitored HSBC's activities, and will continue to do so until July 2018, while outgoing CEO Stuart Gulliver said the progress made at the bank meant it could combat fraud more effectively than five years ago.