#AceNewsReport – Feb.05: The Evening Standard newspaper reported on Tuesday that Metro Bank appointed law firm DLA Piper to conduct the review, which will look into how the lender’s internal controls were breached: DLA Piper did not immediately respond to a request for comment………….Metro Bank declined to comment.
Metro Bank: Hires: ‘ Lawyers over Cuba and Iran sanctions breaches ‘ Reuters reports
The bank notified U.S. regulators in 2017 about the sanctions breaches, according to a prospectus it released in September while raising funds: Metro could face a fine proportional to the amount of money handled.
The disclosures follow a turbulent period for Metro Bank, after a major accounting error disclosed last January triggered a share price crash and the departure of its chairman and chief executive: Metro Bank shares have fallen 90% since it disclosed the problems.
#AceNewsDesk report …………….Published: Feb.05: 2020: Reuters: Reporting By Iain Withers and Sinead Cruise, writing by Lawrence White; Editing by Toby Chopra
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