HSBC (HSBC) has agreed to pay EUR 300M to settle a criminal and civil case in France over its alleged role in a dividend-tax scandal, Gaspard Sebag and Claudia Cohen of Bloomberg reports. The accord will end Parquet National Financier’s investigation against HSBC without the bank admitting guilt. The payment includes a fine worth EUR 268M as well as a tax bill of approximately EUR 30M.
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