British lawmakers are planning to question the chiefs of HSBC and the tax authority HMRC over allegations that the lender had helped wealthy clients evade taxes.
Douglas Flint, the chairman of the bank, and Lin Homer, head of HMRC are expected to face the Treasury Committee of lawmakers on 25 February 2015.
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HMRC is also planning to work with Britain’s Serious Fraud Office (SFO) to expand the investigation.
Treasury committee chairman Andrew Tyrie said: "The committee is concerned about allegations involving HSBC and its Swiss private bank. The Committee will need reassurance that they have done so in private banking.
"The committee will also examine whether part of the banks’ apparent solution de-risking may have created another problem that of unreasonably denying customers access to banking services," Tyrie added.
Earlier this week, HSBC confessed to its Swiss private bank’s failings on allowing wealthy clients to dodge taxes following allegations by media reports.
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By GlobalDataAccording to the documents obtained by the International Consortium of Investigative Journalists (ICIJ) via Le Monde, over 100,000 people held HSBC’s Swiss bank accounts valued at over $100bn.
