The HSBC DPA — Approved, But At What Cost?

Law360, New York (July 8, 2013, 3:09 PM EDT) -- What is the court’s role when the U.S. Department of Justice resolves a criminal investigation through a deferred prosecution agreement? It is not, according to U.S. District Judge John Gleeson of the Eastern District of New York in United States v. HSBC Bank USA, to be a “potted plant.”[1] Rather, according to Judge Gleeson, a court has authority to approve and oversee the implementation of the DPA pursuant to its “supervisory power.” Yet despite this broad statement of judicial authority, Judge Gleeson ultimately afforded “significant deference”...
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