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New York's financial watchdog fines StanChart $40 million

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New York's financial watchdog fines StanChart $40 million
FILE PHOTO: A logo of Standard Chartered is displayed at its main branch in Hong Kong, China August 1, 2017. REUTERS/Bobby Yip   -   Copyright  BOBBY YIP(Reuters)
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(Reuters) – The New York Department of Financial Services (DFS) on Tuesday fined Standard Chartered Plc <STAN.L> $40 million (£30.5 million) for attempting to rig transactions in foreign exchange markets between 2007 and 2013, the regulator said in a statement.

Separately, the bank said it had agreed a consent order regarding “past control failures and improper conduct” in its foreign exchange trading and sales business during the period.

(Reporting by Samantha Machado in Bengaluru; Editing by James Emmanuel)

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