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The bank has set aside $900 million to cover the fines and penalties that may come via probes of its FX trading practices.
Standard Chartered Bank reports that it has received a so-called “decision notice” from the Regulatory Decisions Committee of the United Kingdom’s Financial Conduct Authority (FCA). The decision notice imposes a penalty of £102,163,200 ($136.1 million) (net of a 30 percent early settlement discount) on the bank group. That penalty is related to the group’s “historical...
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