WASHINGTON (Kyodo) U.S. financial regulators said Thursday they have lifted the business improvement order imposed on Sumitomo Mitsui Banking Corp. and its New York branch in connection with deficient safeguards against money laundering.

In an order issued in January 2007, the U.S. Federal Reserve and the New York State Banking Department said there were “compliance and risk management deficiencies” at the bank’s New York branch regarding its antimoney laundering policy and called on the bank to improve the branch’s internal controls to ensure compliance with relevant requirements.

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