ING: SEC closes investigation; doesn't intend to take action
(CercleFinance.com) - After concluding its investigation, the US Securities and Exchange Commission's enforcement staff does not intend to recommend action against ING regarding money-laundering matters, the Dutch financial group said on Wednesday.
In the formal notification from the SEC, the Division of Enforcement states that, based on information to date, it does not intend to recommend an SEC enforcement action against the group, it said.
This comes as ING announced yesterday that it had reached a settlement with the Dutch authorities relating to investigations regarding money laundering and corrupt practices in the Netherlands.
The SEC's enforcement staff conducts investigations into possible violations of federal securities laws, and prosecutes the Commission's civil suits in the federal courts as well as instigating administrative proceedings.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In the formal notification from the SEC, the Division of Enforcement states that, based on information to date, it does not intend to recommend an SEC enforcement action against the group, it said.
This comes as ING announced yesterday that it had reached a settlement with the Dutch authorities relating to investigations regarding money laundering and corrupt practices in the Netherlands.
The SEC's enforcement staff conducts investigations into possible violations of federal securities laws, and prosecutes the Commission's civil suits in the federal courts as well as instigating administrative proceedings.
Copyright (c) 2018 CercleFinance.com. All rights reserved.