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MEDIA-HSBC's Swiss unit facing German tax probe -SonntagsZeitung

Reuters - UK Focus

** German authorities have opened an investigation into whether HSBC's Swiss unit helped clients evade tax, Swiss weekly SonntagsZeitung reported on Sunday

** Authorities in the German state of North Rhine-Westphalia contacted at least eight HSBC employees in Zurich in recent weeks, the newspaper reported, citing sources close to the bank

** Lawyers for HSBC are negotiating with authorities for a settlement which should also include a solution for the employees, the paper said

** A spokesman for HSBC in Geneva declined to comment on the report

** Leaked files published last year sparked allegations that HSBC's private bank may have enabled clients to conceal millions of dollars of assets

For the original story click here: [http://www.sonntagszeitung.ch/read/sz_03_01_2016/wirtschaft/HSBC-im-Fokus-deutscher-Ermittler-52911 ]

Further company coverage: (Reporting by Zurich Newsroom)