Thursday 14 November 2019

HSBC faces second grilling over Swiss tax scandal


HSBC's faces a second grilling by British politicians next week as fallout from the bank's Swiss tax scandal continues.

Parliament's Public Accounts Committee said it will question HSBC Chief Executive Stuart Gulliver, former group general manager of its global private banking arm Chris Meares, and independent non-executive director Rona Fairhead at 1515 GMT on March 9.

The bank has admitted that past failings at its Swiss private banking arm allowed clients to dodge taxes.

Gulliver and HSBC Chairman Douglas Flint were questioned at length by parliament's Treasury Select Committee on Feb. 25, when Flint said the people most responsible for the failings were local management.

The committee will also grill Edward Troup, a top official at Britain's tax authority HMRC, and Dave Hartnett, a former senior HMRC official.

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