WebOct 17, 2024 · The fine is the highest ever imposed by the PRA in a case where it was the sole enforcer, it said in a statement. The PRA said Standard Chartered made five errors reporting its liquidity metric between March 2024 and May 2024, meaning the regulator did not have a reliable overview of the bank's liquidity position.
PRA fines Standard Chartered £46.55m for reporting failures
WebDec 20, 2024 · 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. WebDec 20, 2024 · The Prudential Regulation Authority (PRA) said the fine related to when the regulator was concerned from late 2024 about a "heightened risk" of U.S. dollar outflows from Standard Chartered and had ... chaxhill residential home
PRA fines Standard Chartered £46.55m for misreporting liquidity …
WebStandard Chartered is a global banking group headquartered in London. It is designated by the Financial Stability Board, in consultation with the Basel Committee on Banking … WebDec 20, 2024 · By. Henry Saker-Clark. 20 December 2024. T. he Bank of England has fined banking giant Standard Chartered £46.55 million for misreporting its liquidity position and controls failures. The central ... WebDec 20, 2024 · The Bank of England’s watchdog, the Prudential Regulation Authority (PRA), has fined Standard Chartered Bank (SCB) £46.55m for misreporting its liquidity position and for failing to be open in its regulatory reporting governance. This is the PRA’s highest fine to date in a PRA-only enforcement case. Standard Chartered’s stock price had ... custom rides built mine