Standard Chartered case highlights reach of US rules, experts say
Accusations that UK bank hid Iranian transactions are latest example of US authorities exporting compliance obligations
Claims by the New York Department of Financial Services (DFS) that Standard Chartered avoided US rules on around 60,000 transactions with ties to Iran are the latest example of US authorities imposing local compliance obligations on overseas entities, according to industry experts.
In an order published on August 6, the DFS calls Standard Chartered a "rogue institution". It directs the bank to
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