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.
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.
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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.
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(END) Dow Jones Newswires
November 10, 2017 02:43 ET (07:43 GMT)