(LONDON) JUST IN: Britain’s Metro Bank has hired a law firm to help it investigate payments routed t hrough the bank that breached U.S. sanctions, a regulatory filing showed one customer was subject to U.S. sa nctions on Cuba, while another received payments from Iran, the bank said according to Evening Standard News #AceNewsDesk reports

#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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