LONDON Aug 21 Standard Chartered on
Thursday said it would work with regulators after the United
Arab Emirates central bank warned it could face legal action
after agreeing to close some customers' UAE accounts in an
anti-money laundering settlement.
"We have noted the announcement made by the UAE Central
Bank. We always work with our regulators to achieve the right
outcomes," the bank said in a statement.
Under the settlement, announced on Tuesday, the bank agreed
to pay a $300 million fine, end high-risk relationships with
small- and medium-sized business clients in the UAE, and suspend
the processing of dollar-denominated payments for some clients
at its Hong Kong unit.
(Reporting by Matt Scuffham)