HSBC Holdings agreed to pay around 300 million euros to settle a criminal and tax case in France involving HSBC's alleged role in the so-called “Cum-Cum” dividend tax evasion scandal. The scandal also involved some of France's biggest banks. A Paris judge outlined the settlement agreement in court on Thursday, and he will decide later whether to approve it. The agreement will end the investigation of HSBC by the French National Financial Prosecution Service, and HSBC is not required to admit any crime. The agreement included fines of around €268 million and taxes of around €30 million.

HSBC Holdings agreed to pay around 300 million euros to settle a criminal and tax case in France involving HSBC's alleged role in the so-called “Cum-Cum” dividend tax evasion scandal. The scandal also involved some of France's biggest banks. A Paris judge outlined the settlement agreement in court on Thursday, and he will decide later whether to approve it. The agreement will end the investigation of HSBC by the French National Financial Prosecution Service, and HSBC is not required to admit any crime. The agreement included fines of around €268 million and taxes of around €30 million.