November 14, 2017
HSBC’s decision to pay 300 million euros ($352.5 million) to settle an investigation into tax dodging by French citizens will end proceedings against the bank provided it does make that payment, the French financial prosecutor’s office said on Tuesday.
The financial prosecutor added in a statement that the settlement was the first of its kind under a new French legal framework.
It also said that two former directors of HSBC’s Swiss private bank remained subject to possible legal action.
