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UK's FCA says not formally told of HSBC tax allegations

Tue, 10th Feb 2015 11:28

LONDON, Feb 10 (Reuters) - Britain's tax authority has notformally told the Financial Conduct Authority about allegationsthat HSBC bank's Swiss unit may have helped people toavoid paying tax, FCA Chief Executive Martin Wheatley said onTuesday.

HSBC has admitted failings by its Swiss subsidiary inresponse to media reports it helped wealthy customers dodgetaxes and conceal millions of dollars of assets.

"I am not aware of a direct channel of information on thisparticular case," Wheatley told lawmakers on parliament'sTreasury Select Committee.

(Reporting by Huw Jones, editing by Louise Heavens)

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