Standard Chartered to end supervision by New York regulator for compliance failings
A logo of Standard Chartered is displayed at the financial Central district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip
LONDON (Reuters) - Standard Chartered (STAN.L) will on Dec. 31 end a period of supervision by an independent monitor it had agreed with New York’s Department of Financial Services (DFS), the DFS said on Wednesday, bringing to a close one strand of the bank’s punishment for past failings in compliance controls.
Standard Chartered agreed to the supervision with the regulator in 2012 as part of a wider settlement with U.S. authorities in relation to the bank’s dealings with Iran-related entities. The bank agreed an extension to that monitorship in 2014 and again in April 2016.
Reporting by Lawrence White; Editing by Adrian Croft
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