The Federal Reserve Board on Tuesday announced it has fined Standard Chartered plc and Standard Chartered Bank, of London, England, $164 million for the firm's unsafe and unsound practices relating to inadequate sanctions controls and failure to disclose sanctions risks to the Federal Reserve. The Board is also requiring the firm to improve its U.S. law compliance program. Additionally, the firm is required to strengthen management oversight and perform annual risk-management assessments for high-risk operations. Standard Chartered is restricted from re-employing any individuals involved in the violations. The ... (full story)