Standard Chartered Agrees Extension of U.S. Prosecution Agreements

By Adam Clark Features Dow Jones Newswires

Standard Chartered PLC (STAN.LN) said Friday that it has agreed to an extension of the deferred prosecution agreements it reached with U.S. authorities in 2012 over sanctions compliance.

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The emerging-markets lender said that the agreements have been prolonged to last as long as the appointment of its independence compliance monitor, which is to continue until July 28, 2018.

The deferred prosecution agreements were initially struck in December 2012.

Standard Chartered said that the extension acknowledges that it has taken steps to enhance its sanctions-compliance program, but hasn't yet reached the required standard.

The company continues to cooperate with an ongoing U.S. sanctions-related investigation, it added.

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

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(END) Dow Jones Newswires

November 10, 2017 02:43 ET (07:43 GMT)