HSBC Inquiry Would Likely Focus On Sincerity Of Tax Reforms

Law360, New York (February 12, 2015, 8:17 PM EST) -- Threats of U.S. prosecution loom over HSBC Holdings PLC due to reports that it helped clients hide cash from various tax authorities, and to avoid paying historic penalties like competitor Credit Suisse AG, the bank may want to show that it redoubled reform efforts after entering a corporate compliance monitorship.

The reports are the latest round of bad press for the British bank, which in 2012 agreed to pay the U.S. a $1.9 billion penalty and acquire a monitor over its alleged role in laundering money for Mexican and other Latin American drug cartels. However, HSBC maintains that its Swiss private...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS