Standard Chartered agrees extension of U.S. deferred prosecution agreements

July 27, 2018

(Reuters) – Standard Chartered <STAN.L> said on Friday it had agreed to a further extension of its U.S. deferred prosecution agreements (DPAs) until the end of December this year.

StanChart first entered into the agreements with the U.S. Department of Justice and the New York County District Attorney’s Office in December 2012 over alleged violations related to U.S. sanctions.

“The agreement acknowledges that the group has taken a number of steps and made significant progress toward compliance with the requirements of the DPA and enhancing its sanctions compliance program, but that the program has not yet reached the standard required by the DPA,” Standard Chartered said in a statement.

(Reporting by Justin George Varghese in Bengaluru. Editing by Jane Merriman)

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July 27, 2018 at 09:57PM
from One America News Network