New York Regulator Suspends Dollar Clearing for StanChart’s High-risk Clients

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Monday, December 1, 2014
Author: 
Bruce Zagaris
Volume: 
30
Issue: 
12
Abstract: 

On August 19, 2014, Benjamin M. Lawsky, Superintendent of Financial Services, announced an order concerning Standard Chartered Bank's ("SCB") failures to remediate anti-money laundering compliance problems as required in the Bank's 2012 settlement with the New York State Department of Financial Services (NYDFS).