19 Jan US Fed fines Industrial and Commercial Bank of China for lapses in bank secrecy, sharing of data
Posted at 18:58h
in Asia
The US Federal Reserve fined Industrial and Commercial Bank of China US$2.43 million for improper use of financial-supervision information.The New York Department of Financial Services, which also oversees the bank’s branch in the state, hit the firm with an additional US$30 million penalty.“Confidential supervisory information...