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COMPLIANCE: Standard Chartered becomes latest UK bank to fall foul of regulators as Bank of England hits lender with €55M fine

By Elizabeth Hearst for AMLi

STANDARD Chartered was the third British bank this week to be hit a multi-million euro fine for regulatory failings.

The Bank of England revealed it’s fined Standard Chartered €55 Million (£46.5 Million) for “failing to be open and co-operative” with the Prudential Regulation Authority for “failings in its regulatory reporting governance and controls”. 

The Bank of England prudentially regulates and supervises financial services firms through the Prudential Regulation Authority.

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