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New York Accuses Standard Chartered, Deloitte of Misleading on Iran Transactions
By Brian Monroe and Colby Adams
printU.S. investigators looking into potential sanctions violations by Standard Chartered Bank will likely expedite their case following allegations by New York officials that the bank's executives permitted compliance violations, say sources. The New York State Department of Financial Services (NYSDFS) accused the London-based bank Monday of falsifying Iran-related transactional and other records with "evident zeal to make hundreds of millions of dollars at almost any cost." The state regulator said in a court order that it is asking the bank to explain why it should remain licensed to operate in New York. From 2001 through 2010, the bank's senior management...
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