Reuters: Regulatory News: Standard Chartered says U.S. settlement "pragmatic"

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Standard Chartered says U.S. settlement "pragmatic" Aug 14th 2012, 19:54 LONDON | Tue Aug 14, 2012 3:54pm EDT LONDON Aug 14 (Reuters) - Standard Chartered Plc said its decision to agree to pay $340 million to settle allegations that it hid transactions with Iran was a pragmatic one made in the best interest of shareholders and customers. "It was a pragmatic decision in the best interest of shareholders and customers," a spokesman for the bank told Reuters. The spokesman said the bank remained in talks with other U.S. regulators and an announcement on the timing of any resolutions would be made in due course.

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