Standard Chartered may be fined $1.5bn for Iran violations

standard Chartered2In July 2018, US regulators gave Standard Chartered a further 5-month extension to its US Deferred Prosecution Agreement (DPA), and the bank said it would continue to cooperate with the US sanctions investigation into whether the bank had processed US dollar transactions for Iranian entities after the DPA was signed in 2012.

Standard Chartered is now responding to preliminary findings against it from US regulators and negotiating over a possible $1.5 billion fine.

This entry was posted in Iran, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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