HSBC to Pay €300 Million to End French Tax Dividend Case (1)

HSBC Holdings Plc agreed to pay about €300 million ($350 million) to settle a twin criminal and civil case in France into its alleged role in a dividend-tax scandal that’s embroiled some of the biggest banks in the country.

The Thursday settlement deal was outlined and later approved in court by Paris Judge Peimane Ghaleh-Marzban. The accord ends an investigation by the Parquet National Financier against HSBC without the bank making any admission of guilt. It includes a fine worth €268 million and a tax bill of approximately €30 million that HSBC paid.

Benjamin Rossan, a representative for HSBC, said ...