Standard Chartered pays to get NY regulator off its back
Standard Chartered has reached a settlement with the New York Department of Financial Services (DFS) over claims its US subsidiary illegally processed payments for Iran.
Standard Chartered has reached a settlement with the New York Department of Financial Services (DFS) over claims its US subsidiary illegally processed payments for Iran.
According to reports the emerging market focused bank will pay $340m to settle the claims, and will allow the New York DFS to oversee its compliance activities for at least two years.
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