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StanChart fined £45m for ‘failing to be open and cooperative’ with the banking watchdog
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fnlondon.comThe Prudential Regulation Authority slapped Standard Chartered with a £45.55m fine for regulatory reporting issues and for “failing to be open and cooperative” with the regulator.
“We expect firms to notify us promptly of any material issues with their regulatory reporting, which Standard Chartered failed to do in this case,” said Sam Woods, chief executive of the PRA, said in a 20 December statement.
“Standard...
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