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Standard Chartered settles Iranian transaction accusations

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Standard Chartered has agreed a $340m (£217m) settlement with New York regulators that accused it of hiding $250bn of transactions with Iran.

The hearing that had been scheduled for Wednesday has now been adjourned. The bank’s chief executive Peter Sands has been in New York negotiating with the regulators.

The bank had admitted that some of its transactions did break US sanctions, but said that the amount totaled just $14m.

Full story: Standard Chartered agrees to settlement with New York regulator