Today news
About the same in other media
Basic failures at NatWest and StanChart prompt much-needed zeal from regulators
Reading now: 330
theguardian.comLast week’s £264m penalty and criminal conviction for NatWest for money-laundering failures still takes the prize for the most spectacular collapse we’ve seen in years in a bank’s controls department. The saga, almost unbelievably, involved black bin bags, stuffed with as much as £700,000, getting through the system.
But more mundane control failures also count, and Standard Chartered, the Asian-focused but London-listed bank, limped into view on Monday with a £46.5m fine from the Bank of England’s Prudential Regulation Authority.
It’s a thumping penalty in its own right – the biggest imposed by the PRA acting in a solo capacity – and, beyond the dry technicalities of US dollar liquidity reporting requirements, one can understand why the
Read more on theguardian.comAbout this in other media
Shiba Inu Coin and HUH Token – Million Dollar Moonshot Makers, 5000% and Beyond cryptonews.com /2 years ago
Virginia Giuffre: Settlement between Jeffrey Epstein and Prince Andrew's accuser released euronews.com /2 years ago
Will US regulators shake stablecoins into high-tech banks? cointelegraph.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
