Promontory Financial Group on Tuesday agreed to pay New York regulators $15 million and forego entering into certain consulting arrangements for the next six months with state-chartered financial institutions.
Promontory Financial Group, LLC won't be able to enter into new contractual relationships with troubled New York-regulated banks until further notice, the state's financial regulator said Monday.
Standard Chartered Bank will pay New York $300 million for anti-money laundering violations, a sum nearly 90 percent of a separate fine paid by the institution to the state in 2012 for related sanctions troubles.
Deloitte Financial Advisory Services must pay New York $10 million and refrain from consulting additional state-regulated banks for one year after improperly sharing client data with Standard Chartered.
U.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.
print