November 9, 2017 / 10:20 PM / a year ago

StanChart agrees to extend deferred prosecution agreements

Nov 9 (Reuters) - British bank Standard Chartered Plc said on Thursday it had agreed to a further extension of its U.S. Deferred Prosecution Agreements (DPA) until July 28 next year.

The company had entered into DPAs with the U.S. Department of Justice and the New York County District Attorney’s Office in December 2012, which was extended for a further three years in 2014.

The agreement calls for the appointment of an independent compliance monitor for a three-year term, according to the bank. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Shounak Dasgupta)

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