Offshore

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HSBC to consider ditching UK headquarters

HSBC chairman Douglas Flint has promised shareholders the bank will re-evaluate the location of its headquarters. Speaking at a shareholder meeting in Hong Kong ahead of the bank’s London annual general meeting on 5 May, Flint was asked by investors about the location of the bank. According to reports, Flint said: “We are beginning to […]

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Heiress convicted of HSBC tax fraud

The heir to the Nina Ricci perfume and fashion fortune has been convicted of tax fraud by hiding millions in an offshore HSBC account. The BBC reports a Parisian court has sentenced Arlette Ricci to a year in prison, plus given an additional two-year suspended sentence. Ricci was also ordered to pay a fine of […]

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HSBC shutting Jersey accounts for UK-based customers

HSBC is closing down all Jersey accounts for UK-based customers as part of a “remediation exercise” as it seeks to prevent misuse. Account holders in Jersey have reportedly been told to attend local branches with their passport and address details to avoid their accounts being closed. The BBC reports the account closures are part of […]