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Finance Latest News: French Lawmakers Quiz Ex-HSBC Employee Who Leaked Client Data

Wochit 1:23 mins

A former HSBC employee wanted in Switzerland for leaking the details of tens of thousands of bank accounts gave evidence to French lawmakers trying to tighten rules against tax evasion. Herve Falciani spent four hours describing ways he said the bank helped its clients sidestep taxes using various loopholes and exemptions under national laws. By Ryan Vlastelica NEW YORK (Reuters) - Stock index futures rose modestly on Tuesday, indicating positive market momentum would continue as investors remain more comfortable with the economic outlook. Equities surged in the first half of the year, hitting a series of record highs before pulling back dramatically in June on concerns over when the U.S. Federal Reserve would begin reining in its stimulus program. The policy is widely credited with fueling 2013's gains. ... Ian Hannam, one of London's most prominent bankers who is fighting to clear his name after a 2012 fine for market abuse, was disciplined by his bank four years ago over his working practices, according to court documents. Hannam's employer at the time JP Morgan Cazenove, a JP Morgan joint-venture, imposed "very significant and extensive restrictions" on Hannam after a disciplinary inquiry in 2009, documents released by Britain's financial regulator showed.

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