HSBC bosses apologise for tax scandal during MP grilling

HSBC's senior executives have apologised to a committee of MPs for the failings in its Swiss private banking arm which meant clients avoided paying millions in tax.

The bank is the subject of regulatory probes at home and abroad following the BBC Panorama programme's allegations that it helped clients dodge tax. Chairman Douglas Flint and group chief executive Stuart Gulliver (pictured) were grilled by the Treasury Select Committee on Wednesday following weeks of criticism. The pair apologised for the "unacceptable" practices, which they said had caused "damage to trust and confidence" in the company. When asked about the list of allegations and investigations into HSBC by international regulatory authorities Flint said: "It's a terrible list,...