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HSBC pays €300m to settle French probe of Swiss bank

Investigation now dropped

HSBC Holdings has agreed to pay €300 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.

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