Standard Chartered Bank set aside $900 million to pay fines

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      Standard Chartered Bank (Standard Chartered Bank) has set aside $900 million to pay fines arising from regulatory investigations in the United States and the United Kingdom, which may draw a line in the investigations that have plagued the bank for years.

In a document submitted to the Hong Kong Stock Exchange on Thursday, StanChart said the provision concerns investigations into possible U.S. violations of U.S. sanctions and investigations into foreign exchange transactions.
The filing is the possible cost of the bank's first quantitative investigation. Previously, it only indicated in its submissions that estimating financial impact was "unrealistic" because the scope of potential outcomes was too broad.
In addition, the Financial Conduct Regulatory Authority has imposed a fine of 102.2 million pounds ($133.3 million) on the control of historical financial crimes under the Act. It said it was considering options related to punishment.


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