Go Back   2020 2021 Student Forum > Management Forum > Main Forum





 
  #2  
Old 18th February 2016, 03:23 PM
Super Moderator
 
Join Date: May 2012
Default Re: DFS Standard Chartered

Hello, here I am providing you the details of the Department of Financial Services' of the Standard Chartered Bank as under:

About the service:

Following on from its disclosure of 6th August 2014, Standard Chartered (“the Group”) announces it has reached a final settlement with the New York State Department of Financial Services (“DFS”) regarding deficiencies in the anti-money laundering transaction surveillance system at its New York branch.

The settlement provisions are summarised as follows:

A civil monetary penalty of USD300m
Enhancements to the transaction surveillance system at the New York branch
A two-year extension to the term of the DFS-appointed independent compliance monitor
A set of temporary remediation measures

Restrictions:

Within 30 days, requirements for inclusion of identifying information for originators
After 45 days, a restriction on USD clearing services for certain Hong Kong retail business clients
Within 30 days, enhanced monitoring of certain small and medium sized enterprise clients in the United Arab Emirates

Contact details:
Simon Kutner
Head of External Communications
Standard Chartered Bank
Tel: ++44 7876 002 013
Email: simon.kutner@sc.com

Julie Gibson
Head of Conduct & Compliance Communications
Standard Chartered Bank
Tel: +1 917 209 5872
Email: julie.gibson@sc.com
Reply With Quote Quick reply to this message
Reply


Quick Reply
Your Username: Click here to log in

Message:
Options

Thread Tools Search this Thread



All times are GMT +5. The time now is 07:03 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions Inc.
SEO by vBSEO 3.6.0 PL2

1 2 3