Standard Chartered Nears US Settlement over Iran Dealings - Corruption Currents - WSJ


Standard Chartered PLC is closing in on a settlement with U.S. federal authorities over transactions with Iranian clients that may have violated U.S. sanctions against the country, The Wall Street Journal reported, citing people involved in the negotiations.

The Journal report said the London-based bank, which announced in May it had fully exited Iran after decades in the country, is likely to pay around $300 million in fines and conclude probes brought in recent years by the U.S. Department of Justice, the U.S. Treasury Department, the Federal Reserve and the Manhattan District Attorney’s office, according to the people.

The authorities declined to comment to the Journal. Settlement talks are ongoing, but all sides are aiming to reach a conclusion in the coming days, The Journal reported the people as saying.