Standard Chartered chief executive Bill Winters
Standard Chartered announced on Tuesday that it will pay $1.1 billion to resolve investigations by US and UK regulators into its alleged breaches of sanctions against Iran.
The bank will pay $947 million to an assortment of five US agencies, led by the US Department of Justice; and £102 million to the UK Financial Conduct Authority.
The agreement resolves an issue that has been hanging over the bank since Peter Sands’ time.
It already paid a $667 million fine in 2012 over its handling of transactions involving Iran between 2001 and 2007.
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