Published December 07, 2012
Standard Chartered, a British bank, is expected to announce on Monday a $330 million settlement with U.S. law-enforcement agencies, a deal that would conclude an investigation that examined whether the bank violated sanctions with Iran, people familiar with the situation said.
The settlement, which is expected to include the U.S. Justice Department and the Manhattan district attorney, follows a $340 million settlement that the bank reached in August with the New York Department of Financial Services.
That settlement came after the New York regulator analyzed whether Standard Chartered had improperly concealed transactions tied to Iran. As a result of the settlement, the bank agreed to install a monitor to evaluate anti-money laundering systems.
The bank said on Thursday it expects to pay $330 million in the latest settlement, but did not offer specific timing, saying only that an announcement would come "very shortly." A Standard Chartered spokeswoman declined comment on Friday.
(Reporting by Brett Wolf in St. Louis and Carrick Mollenkamp in New York)