Very recently Standard Chartered, the UK bank, as assessed a huge fine in the US

Question

Very recently Standard Chartered, the UK bank, as assessed a huge fine in the US for helping to launder money from Iran (a country under international banking sanctions) and perhaps other illegal activities as well. This fine was levied by regulators in the state of NY, and not by the Federal Government. Please comment on why you think the state regulators are more vigilant then the Federal ones, and what this might mean or imply for such important and coordinated activities as sanctions against Iran.

Explanation / Answer

state regulators are more vigilant then the Federal ones because state regulators have very good access to companys internal activities than federal bank this might mean or imply for such important and coordinated activities as sanctions against Iran as federal should also play prominant role

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