Deloitte has agreed to a $10 million fine and a one-year ban from advising banks chartered in New York as part of a settlement with state officials, Gov. Andrew M. Cuomo‘s administration announced on Tuesday. The move, a stunning blow to the consulting arm of the accounting giant, stemmed from what state authorities called “misconduct, violations of law, and lack of autonomy” during its work for Standard Chartered, a British bank accused of illicitly transferring billions of dollars on behalf of Iran. Although the bank hired Deloitte to spot suspicious money transfers routed through its New York branches, state authorities said, the consultant instead helped the bank escape regulatory scrutiny.
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