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“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
French Magistrates Probing HSBC for Tax Evasion Scheme
London-based banking giant HSBC last week said that French magistrates have launched a formal criminal investigation and imposed a bail of US$1 billion concerning allegations that HSBC's Swiss-based private banking arm helped clients evade taxes. In a statement, parent company HSBC Holdings said it “believes the French magistrates’ decision is ...
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