HSBC Set to Pay About $300 Million to Settle ‘Cum-Cum’ Tax Case

HSBC Holdings Plc is poised to pay around $300 million to settle a French criminal case into its alleged role in the “Cum-Cum” tax scandal that’s embroiled some of the biggest banks in the country, according to people familiar with the matter.

A proposed settlement with prosecutors from the Parquet National Financier is expected to be reviewed by a Paris judge at a court hearing in the next few weeks, said the people, who spoke on condition of anonymity.

As part of the overall deal, London-based HSBC, which has a unit in France, has discussed a parallel arrangement to ...