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US appeals court blocks release of HSBC report on money laundering

This reverses a district judge's order that the report be made public

Reuters  |  New York 

A US appeals court on Wednesday blocked the release of a report discussing HSBC Holdings Plc's progress in improving its controls against money laundering, reversing a judge's order that the report be made public. By a 3-0 vote, the 2nd US Circuit Court of Appeals in Manhattan said US District Judge John Gleeson abused his discretion in finding that the public had a constitutional right of access to the report under the First Amendment. HSBC agreed to a monitor in December 2012, when it accepted a $1.92 billion fine and five-year deferred prosecution agreement ...

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First Published: Wed, July 12 2017. 22:47 IST