November 21, 2018 / 4:32 PM / in 7 months

StanChart to end supervision by New York regulator for compliance failings

LONDON, Nov 21 (Reuters) - Standard Chartered will on Dec. 31 end a period of supervision by an independent monitor it had agreed with New York’s Department of Financial Services (DFS), the DFS said on Wednesday, bringing to a close one strand of the bank’s punishment for past failings in compliance controls.

Standard Chartered agreed to the supervision with the regulator in 2012 as part of a wider settlement with U.S. authorities in relation to the bank’s dealings with Iran-related entities. The bank agreed an extension to that monitorship in 2014 and again in April 2016. (Reporting by Lawrence White; Editing by Adrian Croft)

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