Peters & Peters

Partner Anna Bradshaw is quoted in annual survey

Partner Anna Bradshaw comments on the fine imposed in 2019 on Standard Chartered Bank by the Financial Conduct Authority (FCA) for breaches in connection with its UK correspondent banking operation and governance of foreign branches.  Her quotes are included in an annual survey of anti-money laundering and sanctions enforcement by, a publication of the Association of Certified Anti-Money Laundering Specialists (ACAMS).  Partner Anna Bradshaw said that that the most notable aspect of the case was not the significant size of Standard Chartered’s penalty, but the fact that the FCA levied it in conjunction with the U.S. “The FCA’s involvement in the settlement may have taken the edge off criticism which may otherwise accompany fines that the U.S. imposes on non-U.S. institutions in amounts that far exceed those that could be expected from local regulators”. Read more