
Adding to investigations by Swiss and German prosecutors, HSBC's Swiss private bank must now also face trials in France to answer charges over an alleged tax-dodging scheme for wealthy customers. The French financial prosecutor's office confirmed its intention on Friday, after that Le Monde reported
* Prosecutors want bank to answer for money laundering charges * Magistrates to decide whether or not to hold trial * HSBC refused plea bargain and fine of 1.4 bln euros -Le Monde (Adds bank reaction, source on plea deal talks, details) By Chine Labbé PARIS, March 13 (R
PARIS, March 13 (Reuters) - HSBC's Swiss private bank said a request by a French prosecutor for trial was a normal step in the judicial procedure that did not prejudge the result of the case. The French financial prosecutor's office has requested that the bank be sent to trial to answer cha
(Adds details) By Chine Labbé PARIS, March 13 (Reuters) - A French prosecutor has requested that HSBC's Swiss private bank be sent to trial to answer charges over a suspected tax-dodging scheme for wealthy customers, a judicial source said on Friday. The procedural step brings
(Adds Payment Systems Regulator comment) By Huw Jones LONDON, March 12 (Reuters) - Allowing customers to take their bank account number with them would encourage more Britons to switch lenders, Britain's financial regulator said on Thursday. Such flexibility has long been a feat
LONDON, March 12 (Reuters) - Britain's banks and other lenders have paid out 18 billion pounds ($27 billion) to compensate borrowers mis-sold payment protection insurance (PPI), after paying out 339 million pounds in December, the financial regulator said. The bill for December was an incre
LONDON, March 12 (Reuters) - Britain's finance ministry said that it supported an independent review into a scheme set up by Britain's financial regulator to compensate small firms mis-sold complex interest rate hedging products. Parliament's Treasury Committee on Tuesday recommended that t
(Adds more detail, government reaction) By Huw Jones LONDON, March 12 (Reuters) - Allowing customers to take their bank account number with them would encourage more Britons to switch to a rival lender, Britain's financial regulator said on Thursday. Such flexibility has long be
DUBAI/KUALA LUMPUR, March 12 (Reuters) - Malaysia has hired three lenders to manage the issuance of a sovereign Islamic bond, or sukuk, of up to $2 billion, according to two sources with knowledge of the deal. The banks are CIMB Group Holdings Bhd, HSBC Holdings Plc and Standard Chartered B
LONDON, March 12 (Reuters) - Allowing customers to keep their bank account number would encourage them to switch to a rival lender, Britain's financial regulator said on Thursday. Banks have said account number "portability" would be costly but the Financial Conduct Authority has backed the
By Huw Jones LONDON, March 11 (Reuters) - It will take another five years or more to make real inroads into the dominance of Britain's five biggest banks, a senior Bank of England official said on Wednesday. Two years ago the government and regulators made it easier for new entrants t
By Nate Raymond NEW YORK, March 10 (Reuters) - Lawyers pursuing an antitrust lawsuit by investors accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market agreed to put most of the litigation on hold amid a related criminal probe by the U.S. Department of
* Committee recommends independent oversight of review * Says FCA must demonstrate process credible * Says Treasury can require work to be done (Adds further comments from Committee chairman) By Matt Scuffham LONDON, March 10 (Reuters) - Britain's financial regulator sho