HSBC to pay $352m to resolve Swiss bank tax probe

HSBC Private Bank, a Swiss unit of banking giant HSBC, has agreed to pay €300m to avoid going to trial in France for enabling tax fraud, prosecutors said today.

However, HSBC Switzerland announced on Tuesday that the settlement did not mean that the bank was guilty.

The investigation began with the whistleblowing case of Hervé Falciani.

On the basis of the data, the French authorities initiated a formal investigation into HSBC in 2014.

The bank has been investigated in several other countries, including Spain and Belgium, following the leak.

"HSBC has publicly acknowledged historical control weaknesses at the Swiss Private Bank on a number of occasions and has taken firm steps to address them", it said.

Notícias recomendadas

  • Pour participer à un festival, il réclame une somme mirobolante — Gérard Depardieu

    Pour participer à un festival, il réclame une somme mirobolante — Gérard Depardieu

    Mais avant de recevoir la réponse des organisateurs du festival, Gérard Depardieu s'est rempli la panse dans un restaurant. Des exigences qui ne sont pas apparemment passées: "Il voulait un paiement immédiat et en cash".
    Exports boost German growth in Q3

    Exports boost German growth in Q3

    Illustrating this trend, Spain's economy is widely expected to muster growth north of 3% this year. On November 9, the European Commission raised its growth forecast for the euro area.

    Smart Fleet Management Market Overview and Scope 2017 to 2022

    The global Smart Advisors market report has a mention of the industrial chain, sourcing strategy, and downstream buyers. United States is the largest production and consumption region in the world, while China is fastest growing region.
  • Avery Dennison Corp (AVY) Position Increased by Td Asset Management Inc

    The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website .

    The FY2016 EPS Estimates for Eastman Chemical Co. Upgrade by Analyst (EMN)

    The company reported $1.86 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $1.67 by $0.19. The stock has a market cap of $13,043.90, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31.
    Dallas DA Fires Prosecutor After Incident With Uber Driver

    Dallas DA Fires Prosecutor After Incident With Uber Driver

    According to Crowdrise , Jody Warner , of Dallas , was part of a fundraising effort to raise money for Alzheimer's research. The district attorney's office confirmed that an investigation has been launched when reached by The Post on Monday.
  • Au moins trois morts lors d'une fusillade dans une école — Californie

    Au moins trois morts lors d'une fusillade dans une école — Californie

    Au moins trois personnes ont été tuées et deux enfants blessés mardi au cours d'une fusillade dans une école élémentaire du nord de la Californie, ont affirmé les autorités, précisant que le tireur avait été abattu.
    Format exclusives lead nominations for The Game Awards 2017

    Format exclusives lead nominations for The Game Awards 2017

    Some of the most notable nominations for the games include " Game of the Year ", " Best Game Direction ", and "Best Music". Luckily you'll be able to watch the show for free on almost every gaming platform, mobile, and PC.
    KJ George will not resign, we're ready for battle, declares Siddaramaiah

    KJ George will not resign, we're ready for battle, declares Siddaramaiah

    George, who has been named as the first accused in the FIR filed by the CBI in connection with the suicide of Dy.SP M.K. Quoting the Supreme Court's order on handing over the case to CBI and subsequent FIR filed by the CBI, Mr.
  • Flying auto  company Terrafugia bought by China's Geely

    Flying auto company Terrafugia bought by China's Geely

    Terrafugia strives to market the first flying vehicle in the world with the Vertical Take Off and Landing (VTOL) in 2019. And in anticipation of the deal, Terrafugia has tripled the size of its engineering team over the past quarter.
    Les femmes au centre de la Journée mondiale du diabète mardi

    Les femmes au centre de la Journée mondiale du diabète mardi

    Dans les pays voisins, environ 1,65 million de personnes sont atteintes de diabète au Maroc contre 762.000 personnes en Tunisie. Le diabète est une maladie chronique qui se caractérise par un excès de sucre et donc, un taux de glucose élevé dans le sang.
    Eagles Of Death Metal Return To Paris To Honour Bataclan Victims

    Eagles Of Death Metal Return To Paris To Honour Bataclan Victims

    The singer and the guitarist performed two songs - "Save a Prayer" and "I Love You All the Time" - outside the town hall. The memorial began with a moment of silence and reading of the names of those killed in the massacre.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.