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Weekly Roundup: Commerzbank Says Expected Settlement Costs May Rise, U.S. Taking a Second Look at UBS, and More
printCommerzbank AG told investors Thursday that settlement costs with U.S. regulators and prosecutors will be higher than previously estimated. The bank has increased its 2014 legal reserves to $1.6 billion, Reuters reported. More The United Kingdom's Treasury Committee will examine tax evasion allegations against HSBC's Swiss private banking subsidiary, the BBC reported Thursday. Separately, the U.K. Treasury is preparing to tighten tax laws in an effort to target undeclared income stashed in offshore accounts. More Tunisia will investigate 256 of its citizens who have secret HSBC accounts in Switzerland under the country's anti-money laundering and counterterrorism financing laws, Middle East...
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