Deloitte settles with New York

Marion Dakers
DELOITTE has agreed to suspend financial consulting work with New York-regulated firms and pay $10m to settle a case with the state regulator.

The Department of Financial Services said Deloitte’s consultancy work was flawed when it worked with Standard Chartered in 2004 and 2005 on anti-money laundering.

Deloitte’s Financial Advisory Services unit volunteered to the 12-month ban, it said in a statement.