Reuters: Regulatory News: Standard Chartered, New York regulator reach $340 mln settlement

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Standard Chartered, New York regulator reach $340 mln settlement Aug 14th 2012, 18:00 NEW YORK | Tue Aug 14, 2012 2:00pm EDT NEW YORK Aug 14 (Reuters) - Standard Chartered Plc has agreed to pay $340 million to settle allegations that it hid transactions with Iran from regulators, the New York Department of Financial Services said on Tuesday. In addition to the civil penalty, the bank agreed to install a monitor for at least two years to evaluate the bank's money-laundering risk controls in its New York branch, the department said in a statement.

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