Standard Chartered close to another settlement

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Standard Chartered is set to pay $200-$300m to settle failed high-risk transactions review allegations by New York Department of Financial Services.

Reuters reports that Standard Chartered is close to a deal to pay between $200 million and $300 million to resolve allegations by New York’s banking regulator that it failed to review high-risk transactions, two years after agreeing to reform its practices, a person familiar with the matter said on Monday.

The announcement of the settlement could come this week, possibly as soon as Tuesday, according to the person, who was not authorized to speak about the talks and declined to be identified.

The penalty would be the second the British bank has paid to the New York Department of Financial Services in two years.

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Standard Chartered nears deal over compliance failure - source

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