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Banks ‘too big to prosecute’, says British regulator

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Above the law
Some banks have become so big that prosecuting them for illegal activity may erode confidence in the wider financial services industry, according to the future chief of the U.K.’s Prudential Regulation Authority.

While not openly cited, the sentiment appears to be shared in the U.S., where HSBC recently dodged an indictment over money laundering for terrorists and drug cartels.