Pressure continues on Claude Marx

As previously reported the name of the new Director General of the CSSF, Claude Marx, appears in the Panama Papers mainly from when he was deputy director of HSBC Luxembourg.

As first reported by the Belgian daily Le Soir, news continues to trickle out about Marx the current head of the Financial Sector Supervisory Commission (CSSF) a role he took after his time as CEO of  Lombard International Assurance, where he was CEO from 2012 to 2015.

His relations with infamous law firm Mossack Fonseca date back to the days when Claude Marx held the position of Deputy Director of HSBC Private Bank, between 2000 and 2011. According to the Belgian daily, he would have personally participated in offshore company management and have maintained direct contacts with representatives of Mossack Fonseca.

According to confidential files Claude Marx represented HSBC as a shareholder in many of these offshore, which have since been liquidated. And under the co-leadership, are dozens of offshore companies that were created by the Luxembourg bank and Mossack Fonseca. “

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