NEW YORK Aug 19 British banking giant Standard
Chartered Plc will pay a $300 million penalty and
suspend or exit some businesses after failing to fix problems
required under a 2012 settlement with a New York state financial
regulator to address suspected money laundering.
In the latest settlement, announced on Tuesday by Benjamin
Lawsky, the New York State financial services superintendent,
Standard Chartered agreed to suspend dollar-clearing operations
for high-risk clients at its Hong Kong unit, and exit high-risk
client relationships in the United Arab Emirates.
It also agreed to obtain approval from Lawsky's office
before opening new U.S. dollar-clearing accounts, and to retain
a monitor appointed in the 2012 settlement for two more years.
(Reporting by Jonathan Stempel in New York and Steve Slater in
London; Editing by Jeffrey Benkoe)