trending Market Intelligence /marketintelligence/en/news-insights/trending/Cf-P1D3P1di1KanpWZY9Ig2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Former HSBC Swiss private bank CEO pleads guilty in €1.6B French tax case

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Former HSBC Swiss private bank CEO pleads guilty in €1.6B French tax case

Peter Braunwalder, the former CEO of HSBC Holdings PLC unit HSBC Private Bank (Suisse) SA, was fined €500,000 and given a one-year suspended jail sentence after he pleaded guilty to helping wealthy clients avoid taxes on assets worth at least €1.6 billion, Bloomberg News reported, citing a Paris court ruling.

Braunwalder admitted that he was involved in helping clients hide the assets between 2006 and 2007 by setting up offshore trusts, opening secret Swiss bank accounts or providing fake loans, according to the Aug. 7 report.

Braunwalder, who left his role at HSBC a decade ago, also pleaded guilty to illegally approaching French residents to urge them to transfer funds to Switzerland during the period, the news agency added.

HSBC's Swiss private bank came under the eye of French authorities after Herve Falciani, a former IT worker at the company, shared with investigators client account details stolen from the firm's Geneva office in 2008, Bloomberg noted.

In November 2017, HSBC reached a €300 million settlement with the French financial prosecutor over allegations in the same case. The French prosecutor said two unnamed former directors of HSBC's Swiss unit, who BBC News identified at the time as Braunwalder and another executive, Judah Elmaleh, were still under scrutiny and could face potential legal action.

Reuters recently reported that the Swiss unit will pay €294.4 million to the Belgian state to settle a tax fraud case.