REUTERS - Reuters

HSBC Settles French Tax Fraud Probe for 267.5 Million Euros HSBC has agreed to pay 267.5 million euros ($312.33 million) to settle a French investigation into alleged dividend tax payment fraud, covering practices from 2014 to 2019. The settlement, approved by a Paris court, does not admit guilt and acknowledges HSBC's cooperation with the investigation. The probe focused on intra-group dividend arbitrage transactions, not the cum-ex dividend stripping scheme. HSBC stated it was pleased to resolve the matter, highlighting corrective measures taken. The investigation is part of a broader dividend tax fraud probe affecting several banks in Europe.