Standard Chartered is pursuing a collective settlement with other US authorities after speedily agreeing to pay US$340 million (RM1.06 billion) to New York’s financial regulator, which broke ranks with early revelations that the bank hid banned Iranian transactions.
With the New York settlement agreed subject to formalities, Standard Chartered’s US lawyers Sullivan & Cromwell will look to accelerate talks with other agencies to enable the bank to draw a line under an episode that has left it with lasting damage to its reputation. Full story
