HSBC (HBC) will apologize at a Senate hearing next Tuesday for anti-money laundering controls...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

HSBC (HBC) will apologize at a Senate hearing next Tuesday for anti-money laundering controls that weren't effective enough, according to an internal memo. In a note to employees, CEO Stuart Gulliver wrote "we failed to spot and deal with unacceptable behavior... It is right that we be held accountable and that we take responsibility for fixing what went wrong."