Standard Chartered to pay US$327m to resolve US case

British bank Standard Chartered Plc will pay US$327 million to resolve allegations that it violated US sanctions and other laws, the Federal Reserve said on Monday.

The bank will pay US$100 million to resolve allegations by the US Federal Reserve that it provided “inadequate and incomplete responses” to bank examiners and provided insufficient oversight of its sanctions compliance program, the Fed said.

via Business feed http://www.scmp.com/business/banking-finance/article/1102542/standard-chartered-pay-us327m-resolve-us-case