HSBC accepts €268 million fine in France over tax-fraud claims

French authorities said HSBC will pay nearly €268 million to resolve accusations of tax fraud tied to intra‑group dividend transactions; prosecutors said the case will be shelved once the fine is paid.

HSBC has agreed to pay nearly €268 million to French authorities to resolve allegations of tax fraud connected to dividend payments. French prosecutors said the investigation focused on transactions by the bank's French arm between 2014 and 2019. The prosecutor's office characterized those dealings as aimed at claiming tax exemptions. HSBC said the company cooperated with the investigation and took corrective measures. Reported details: - HSBC agreed to pay nearly €268 million (about $312.9 million) to French authorities to resolve accusations related to dividend transactions. - The probe examined intra-group dividend arbitrage by HSBC's French unit between 2014 and 2019, reported as seeking tax exemptions. - French financial prosecutor Pascal Prache said the case will be shelved once the fine is paid. - HSBC said the settlement recognizes its cooperation and corrective actions and stated it was pleased to have resolved the matter. Summary: If the bank pays the agreed amount, prosecutors say the case will be shelved, ending this particular investigation. The immediate legal step described is the payment and the subsequent shelving of the case; broader consequences were not detailed.