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BUZZ-HSBC: at 7-mth high on report it is weighing UK retail bank spin-off

** HSBC up c.3 pct at levels last seen end-September in heavy volume

** Co mulling plans to spin off its British retail bank in a 20 bln-pound deal, Sunday Times says (HSBC declines to comment on report)

** Top FTSE 100 riser & most actively traded stock on index, with 3/4 of its 90-day daily avg having gone through in just over an hour

** HSBC ordered a review into whether it should move its HQ back to roots in Hong Kong as tax & regulations in UK bite; news (Friday) met with c.3 pct share price rise; Bernstein reckons such a move could lift earnings by c.$1.4 bln

** A UK law forcing banks to separate their domestic retail operations by 2019 is likely to be key in any decision. If the bank does move, it could choose to spin off its UK arm, investors have said

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** Reuters reported recently executives at HSBC & rival Standard Chartered (Other OTC: SCBFF - news) were looking at quitting London for Asia

** StanChart (HKSE: 2888-OL.HK - news) shares up 2.7 pct, second-top FTSE 100 risers & 4th most actively traded stock on index (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)