Relevant:
- Benjamin Lawsky to Step Down as New York's Top Financial Regulator
- 'Rogue' New York Regulator Benjamin Lawsky Sets Feds Scrambling In Standard Chartered Laundering Case
- Foreclosure Reviews: Exorbitant for Banks, Gold Mines for Consultants
- Richard Meddings On U.S. Regulators: 'You F*cking Americans. Who Are You To Tell Us, The Rest Of The World That We're Not Going To Deal With Iranians?'
- U.K. bank accused of laundering money for Iran through U.S.
2013-06-26 — forbes.com
``In addition, the consultants' independence has been questioned in this column and in other news reports as well as by legislators for both branches of Congress and both sides of the aisle. The New York State Department of Financial Services recently banned Deloitte's Financial Advisory Services practice for one-year and imposed a $10 million fine for Deloitte's lack of "autonomy" as an "independent monitor" in another enforcement order against Standard Chartered. The breakdown of the shadow regulator model -- private profit-seeking consulting firms with focus on future bank consulting revenues trusted to stand in the regulators' shoes -- is endemic.''
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