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Judge Lets Sun Shine on Secret HSBC Money Laundering Report

  • Foot-dragging, bullying of internal watchdogs marred cleanup
  • U.S. urged that report, `road map' for criminals, stay sealed
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A report detailing HSBC Holdings Plc’s uneven efforts to fix faulty money-laundering controls will be made public, according to an order by a federal judge who criticized the government’s attempt to keep the document under seal.

U.S. District Judge John Gleeson in Brooklyn, New York, ruled late Thursday that the report, produced by a monitor installed to oversee the bank’s cleanup efforts, qualified as a “judicial record” that should be filed publicly.