WASHINGTON, D.C. (CNN) - We deeply regret and apologize for the fact that HSBC did not live up to our own expectations, the expectations of our regulators, our customers, our employees and the general public. HSBC's compliance history, as examined today, is unacceptable. HSBC has learned some very hard lessons from the experience of the past few years, but we have taken some very substantive steps to address the problems that we, our regulators and this subcommittee identified.
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