Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.
Under the terms of the resolutions, Standard Chartered will pay a total of $947 million in monetary penalties to the U.S. government agencies and £102 million (U.S. $133 million) to the U.K. Financial Conduct Authority. The bank took a $900 million provision, which included these matters in the fourth quarter of 2018, and will take a further and final charge of $190 million in the first quarter of 2019, the company announced.
