By Adam Clark

 

ING Groep NV (ING) said Wednesday that it has been notified that the U.S. Securities and Exchange Commission doesn't intend to take action over an investigation into the bank's money-laundering controls, following ING's settlement with Dutch authorities.

ING said the SEC has concluded its investigation and has told the bank that it doesn't intend to recommend an enforcement action, based on current information.

On Tuesday, ING said it had agreed to pay a record European fine of 775 million euros ($897 million) to settle an investigation by Dutch prosecutors into money-laundering failures.

 

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

 

(END) Dow Jones Newswires

September 05, 2018 03:05 ET (07:05 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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