British banking and financial services company announces provision for potential penalties

According to a press release, Standard Chartered PLC has received a decision notice from the UK Financial Conduct Authority imposing a £102,163,200 penalty on the group concerning its historical financial crime controls.  The Bank reports it is considering its options with regard to the notice.  Standard Chartered has also made a provision of $900 million for penalties that may be imposed as a result of a previously disclosed US investigation into alleged historical violations of US sanctions laws and regulations.

Standard Chartered press release

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