- The Wall Street Journal•1 hour ago
Switzerland says it will pass to the U.S. account information on HSBC Holdings PLC's Swiss customers.
Switzerland said it plans to give information to U.S. tax authorities about accounts at HSBC Holdings Plc's (HSBA.L) Swiss private bank, as part of a U.S. investigation into tax evasion. HSBC's Swiss unit has already paid tens of millions of dollars in fines after admitting substandard compliance on tax evasion and other issues. The Swiss government said it made the announcement about its plans on Tuesday to alert HSBC account holders whom it has been unable to locate, and to give them the chance to lodge a legal appeal if they object to having their information sent to the U.S. Internal Revenue Service (IRS).
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