A federal judge has approved HSBC Holdings Plc's (HSBA.L)(HBC.N) record $1.92 billion settlement with federal and state investigators of charges that it flouted rules designed to stop money laundering and thwart transactions with countries under U.S. sanctions.
While noting "heavy public criticism" of the settlement, which enabled HSBC to escape criminal prosecution, U.S. District Judge John Gleeson in Brooklyn, New York, called the decision to approve the accord "easy, for it accomplishes a great deal."
Gleeson ruled on Monday after more than six months of review, rejecting arguments by the U.S. government and HSBC that federal judges lacked "inherent authority" over the approval or implementation of so-called "deferred prosecution agreements."
The settlement, announced December 11, 2012, included a $1.256 billion forfeiture and $665 million in civil fines.



Nearly 400 millionaires and billionaires from 24 countries are calling on global leaders to increase taxes...
There is a new deadline for U.S. importers to file for electronic refunds if the Supreme...





























