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Standard Chartered (SCBFF.PK) expects to pay $330M in fines to settle accusations that its...

  • Thursday, December 6, 2012, 2:59 AM ET
    Standard Chartered (SCBFF.PK) expects to pay $330M in fines to settle accusations that its dealings with Iranian customers breached U.S. sanctions. The penalty, which the U.K. bank is negotiating with multiple authorities, would add to the $340M that StanChart has agreed to pay to the New York Department of Financial Services. Meanwhile, the company forecast FY revenue and pretax profit growth of under 10%. (PR)
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    Why are there negotiations taking place? Either StanChart broke the law or they did not. If they did, then set a fine and require them to pay it. Why do they get the ability to negotiate their fine?
    6 Dec 2012, 07:23 AM Reply Like
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