US Remakes Case to Keep HSBC Report Sealed from Field of Litigants

By Valentina Pasquali

U.S. officials told an appellate court on Thursday that plans to unseal a report on HSBC's anti-money laundering efforts since 2012 could undercut future efforts to police the financial sector. In a brief filed in support of the London-based bank, federal prosecutors asked that a January decision to publish the findings of a court-appointed monitor be overturned despite litigants' claims to the information. The report's publication would have a "chilling effect" on the willingness of bank employees and foreign regulators to share sensitive data that could later be revealed in litigation, they said. The 2015 findings by then-compliance monitor Michael...