CLEAN : HSBC to pay nearly 300 million euros to end Belgian probe

The transcript discusses HSBC Private Bank's financial provision and a penal transaction with the Brussels prosecutor's office, amounting to 294.4 million euros, plus a civil indemnity of 400,000 euros to the Belgian state. The agreement requires approval from the Chamber of Council, which may reject it if legal conditions are unmet. HSBC was suspected of facilitating tax evasion through offshore companies, particularly for diamond traders in Versoie. The investigation into these activities began in 2014.

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