14 Jan 2019
Standard Chartered’s deferred prosecution agreements (DPAs) with the US Department of Justice and the New York County District Attorney’s Office will be further extended until March 2019.
Both deals were reached in 2012, and subsequently extended until 31 December 2018. The bank entered the agreements after it landed in trouble for processing payments for sanctions targets in countries such as Iran and Sudan.
“The terms of the extension of the DPAs are materially the same as the prior extensions, and include an extension of the term of the independent monitor until 31 March 2019,” the bank said in a statement.
“This extension does not affect the 31 December 2018 expiration of the term of the monitor appointed by the New York State Department of Financial Services, announced by the Group on 21 November 2018.”
Photo: Standard Chartered Bank
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