Prosecution deferral

HSBC Set Free of Deferred-Prosecution Pact,” The Wall Street Journal, December 12, 2017 B10.  Five years later, HSBC has apparently cleaned up its act enough, and its independent monitor can now go home.

Independent monitors are an intrusive and expensive mechanism by which to avoid criminal conviction.  You pay a third party to watch to make sure you don’t do anything wrong going forward.  But they’re better than a criminal conviction.

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Filed under Compliance, Controls, Governance, Oversight, Third parties

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