HSBC pays 300 million euro to settle French probe of Swiss bank
ZURICH (Reuters) – HSBC Holdings (HSBA.L) has agreed to pay 300 million euros (£269 million) to settle a long-running investigation into tax dodging by French citizens via its private bank in Switzerland, the lender said on Tuesday.
The agreement is a first under a French system introduced in 2016 that lets companies settle without any finding of guilt, HSBC said in a statement, adding the amount of the fine had been fully provisioned. The investigation of HSBC Holdings has been dismissed.
Reporting by Michael Shields
Source: Reuters Latest News