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The article reports that British banking company Standard Chartered PLC has reached a $340 million settlement of allegations by the New York Department of Financial Services that it violated U.S. money-laundering laws by concealing some 60,000 transactions with Iranian clients over a ten-year period. Standard chief executive Peter A. Sands has agreed to key points of the accord, although final language has yet to be drafted.

The article discusses reactions of British banking officials to claims by the New York Department of Financial Services that banking company Standard Chartered PLC broke New York state banking laws by concealing financial dealings it had with Iran. Bank of England Governor Mervyn King urged that investigators refrain from public comment until probes into Standard Chartered's actions were complete. Standard Chartered chief executive Peter Sands said his bank had been harmed by the charges.

The article discusses settlement talks between the British bank Standard Chartered PLC and U.S. financial regulators to resolve investigations of the bank's dealings with Iranian clients. Topics include penalties for financial transactions with customers in countries under U.S. economic sanctions and threats by the New York banking regulatory authority to remove Standard Chartered's license to do business in the state.

The article reports that banking company Standard Chartered PLC is nearing an agreement with several U.S. authorities including the Treasury Department and Federal Reserve concerning transactions that bank was involved in that may have violated U.S. sanctions against Iran.

The article reports that British bank Standard Chartered PLC has agreed to pay 340 million dollars as part of a settlement with the New York Department of Financial Services over allegations that the bank illegally violated U.S. trade sanctions against Iran.