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Weekly Roundup: U.S. Criticizes HSBC’s Compliance Reforms, U.K. Launches Sanctions Agency, and More
printHSBC has come up short in its fight against money laundering despite its 2012 deferred prosecution agreement with the U.S. Justice Department, a federal prosecutor said in a letter. The bank's monitor under the deal believes the institution's compliance monitoring capabilities remain immature and "a great deal of work remains to be done" to improve technological issues, Reuters said. More HSBC's affiliate in Saudi Arabia has set aside $42 million in the past two years to pay regulatory fines and cover future monetary penalties, according to Bloomberg. More The Justice Department has questioned Deutsche Bank AG and JPMorgan Chase over...
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