The Financial Conduct Authority (FCA) said that it is scrutinizing the current practices and culture at HSBC bank over its Swiss tax-dodging scandal.
The regulator added that it was aware of the scandal through the media and is cooperating with other regulators to investigate the matter.
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"The FCA is working closely with the firm and other agencies which have an interest in this matter to ensure that any questions this may raise in relation to any current practices and culture of HSBC are addressed," an FCA spokesman said.
FCA said that it had not launched a formal probe into HSBC but was focusing on the bank’s current behavior rather than alleged past abuses.
Last week, Bank of England and the Serious Fraud Office (SFO) said they were planning to look at the scandal, along with HM Revenue & Customs (HMRC).
Martin Wheatley, CEO of FCA, said to the Treasury select committee last week that the bank had reformed its operations.
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By GlobalDataHSBC declined to comment on its discussions with the FCA.
The bank has issued a public apology to its customers over allegations that it helped wealthy clients dodge taxes.
