Weekly Roundup: Korea to Launch AML Probe of HSBC, Standard Chartered; Bank of England’s King Criticizes NY Regulator, And More

Bank of England Governor Mervyn King voiced objections Wednesday to the way New York regulators handled allegations of sanctions violations against Standard Chartered Bank, according to the Associated Press. King said the New York State Department of Financial Services "moved too quickly" and should have coordinated its investigation with authorities in the U.S. and United Kingdom. More South Korean authorities will review the operations of HSBC Holdings Plc (HSBA) and Standard Chartered Plc to ensure their compliance with anti-money laundering (AML) standards, Bloomberg reported Thursday. Prompted by U.S. allegations that the banks violated AML and sanctions regulations, the probe is...