January 29, 2019 / 6:10 PM / 23 days ago

New York's financial watchdog fines StanChart $40 million

FILE PHOTO - People pass by the logo of Standard Chartered plc at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren

(Reuters) - The New York Department of Financial Services (DFS) on Tuesday fined Standard Chartered Plc $40 million for attempting to rig transactions in foreign exchange markets between 2007 and 2013, the regulator said in a statement.

Separately, the bank said it had agreed a consent order regarding “past control failures and improper conduct” in its foreign exchange trading and sales business during the period.

Reporting by Samantha Machado in Bengaluru; Editing by James Emmanuel

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