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HSBC deferred prosecution agreement approved

( July 1, 2013, 22:32 GMT | Official Statement) -- MLex Summary: HSBC and the US Department of Justice reached a deferred prosecution agreement to resolve a case involving money laundering and export sanctions violations. Judge John Gleeson of the Eastern District of New York asserted authority to approve the agreement, a departure from past practice, and then approved the five-year agreement, including provision for an independent monitor who would issue quarterly reports on the bank's progress in improving its compliance programs.Please see attached order approving deferred prosecution agreement....

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