April 9, 2019 / 2:10 PM / 6 months ago

Standard Chartered to pay $1.1 bln for sanctions-controls lapses -US regulators

WASHINGTON, April 9 (Reuters) - London-based Standard Chartered PLC has agreed to pay $1.1 billion for sanctions-controls lapses, the U.S. Federal Reserve said.

As part of an overall settlement, the regulator says it has fined Stanchart $164 million.

While the bank has not confirmed or denied the charges, it will improve its U.S. law compliance program and strengthen management oversight, the Fed said. (Reporting by Katanga Johnson Editing by Chizu Nomiyama)

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