Cyprus-Forum.com

[gerrybartholomew]

Do the words "bitter and twisted" mean anything to you all? I ploughed my way through this listening to bitch on bitch and then realised that hardly any, if any at all, are CYPRIOTS. Get a life wont you. By the way if you read what the FSA actually do and their guidelines you will see that HSBC can legally operate in the North, but you wont listen any way will you?

[paliometoxo]

welcome to the forum. If you where our position you would not either. i take it you live in the north and are one of the pro turkish?

[DT.]

Do the words "bitter and twisted" mean anything to you all? I ploughed my way through this listening to bitch on bitch and then realised that hardly any, if any at all, are CYPRIOTS. Get a life wont you. By the way if you read what the FSA actually do and their guidelines you will see that HSBC can legally operate in the North, but you wont listen any way will you?

I worked for the FSA about 6 years ago and can guarantee you that here are repercussions when a firm operates in an country without having received the correct passporting permissions from the relevant country's regulatory authority.

[YFred]

Do the words "bitter and twisted" mean anything to you all? I ploughed my way through this listening to bitch on bitch and then realised that hardly any, if any at all, are CYPRIOTS. Get a life wont you. By the way if you read what the FSA actually do and their guidelines you will see that HSBC can legally operate in the North, but you wont listen any way will you?

I worked for the FSA about 6 years ago and can guarantee you that here are repercussions when a firm operates in an country without having received the correct passporting permissions from the relevant country's regulatory authority.

Perhaps there is a deep hint there for you that they had the correct passporting permissions from the TRNC?
Being the relevant country?
Acceptable to the FSA?
And then the World?

[CBBB]

Don't think so. What?

[DT.]

Do the words "bitter and twisted" mean anything to you all? I ploughed my way through this listening to bitch on bitch and then realised that hardly any, if any at all, are CYPRIOTS. Get a life wont you. By the way if you read what the FSA actually do and their guidelines you will see that HSBC can legally operate in the North, but you wont listen any way will you?

I worked for the FSA about 6 years ago and can guarantee you that here are repercussions when a firm operates in an country without having received the correct passporting permissions from the relevant country's regulatory authority.

Perhaps there is a deep hint there for you that they had the correct passporting permissions from the TRNC?
Being the relevant country?
Acceptable to the FSA?
And then the World?

The bank in the occupied areas is registered as a branch of HSBC Turkey, so no they are not there under some poxy "trnc" regulation but under Turkish regulation.

[YFred]

Don't think so. What?

Na scasede ullisas, what?

[CBBB]

Don't think so. What?

Na scasede ullisas, what?

What?

[Malapapa]

Do the words "bitter and twisted" mean anything to you all? I ploughed my way through this listening to bitch on bitch and then realised that hardly any, if any at all, are CYPRIOTS.

What part of Cyprus are you from, Gerry Bartholomew?

Get a life wont you.

Are you saying that the pursuit of justice isn't a worthy pastime?

By the way if you read what the FSA actually do and their guidelines you will see that HSBC can legally operate in the North, but you wont listen any way will you?

They may be able to operate legally in the part of Cyprus currently controlled by Turkey's military but there will certainly be repercussions if they are found to be operating illegally, eg. they have taken insufficient precautions to ensure against providing banking facilities to those benefiting from infringement of property rights.

[Gasman]

Oh please don't start discussing it in Greek with no translation.

I remember when all and sundry were accusing Paypal of operating illegally and threatening to report them to the FSA. Nothing came of it. They were allowed to do whatever it was they were set up to do.

I am reminded of this thread every time I am on the internet. HSBC ruthlessly advertise as a suitable bank for ex pats. I just don't see the point of this.

Perhaps if it were a competitor Bank who were taking them to task I might think they had researched, found precedents and had good grounds to do so. But not just Joe Soap taking umbrage about it.

It also occurs to me that it might fall under that 'strictly speaking it is 'illegal' but nothing will happen/no action will be taken' umbrella that covers other stuff (thinking of Visa Requirements here where TRNC is involved).

I also cannot see what satisfaction would be gained if by some miracle you stopped them operating over there. Plenty of other banks for people to choose from. (Or are you dreaming of an outcome where all the head honchos and employees of the Bank would be sent to prison and all the investors lose their money? Or what?)

But then I think the 'next step' brainwave to take GUESTS (not the travel agents, or the people who are making money from operating the hotels, but holidaymakers who are giving their money to them) who stay in hotels over there to court is potty too.