UK FCA £102m fine on StanChart for financial crime failures

Standard Chartered announced yesterday that it had received a decision notice from the UK Financial Conduct Authority (FCA) imposing a penalty of £102,163,200 for “historical financial crime controls”. StanChart said that it will set aside $900m to make provision for this fine, plus: the $40m civil monetary penalty agreed last month with the New York State Department of Financial Services...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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