Standard Chartered fined £46.55m over lax reporting, failing to be open and cooperative

Mark Battersby
clock • 2 min read

The Prudential Regulation Authority (PRA) has imposed a financial penalty on Standard Chartered Bank (SCB) of £46.55m for failing to be open and cooperative with the PRA and for failings in its regulatory reporting governance and controls in relation to a tailored PRA liquidity expectation. This was the PRA's highest ever fine in a PRA-only enforcement case. In October 2017, the PRA imposed a temporary additional liquidity expectation on SCB in response to concerns about heightened risk of USD liquidity outflows ("the liquidity metric"). This temporary expectation has now been removed...

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