Lawsky Bares Teeth With Latest Standard Chartered Penalty
By Evan Weinberger (August 19, 2014, 6:52 PM EDT) -- With Tuesday's latest penalty for Standard Chartered PLC over anti-money laundering violations, New York Superintendent of Financial Services Benjamin Lawsky is proving himself to be as feared an enforcer as his federal counterparts — if not even more so.
Even before taking a second swipe at Standard Chartered, Lawsky had developed a reputation as among the toughest cops on the Wall Street beat. Going after the British bank's hugely profitable dollar-clearing activities only enhanced that reputation, said Sarah Jane Hughes, a professor at the Indiana University Maurer School of Law.
"It certainly won't make him the least feared," she said....
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