Standard Chartered Avoided ‘Guillotine,’ Consultant Petrou Says

Karen Shaw Petrou, managing partner of Federal Financial Analytics Inc., comments on Bloomberg Television about Standard Chartered Plc’s $340 million settlement of a New York money-laundering probe. Petrou is co- founder of the Washington-based consulting firm.

Standard Chartered still faces federal inquiries over claims it helped sanctioned nations including Iran illegally funnel money through the U.S. Regulators including the U.S. Treasury, Federal Reserve, Justice Department and Manhattan District Attorney declined attempts at a global settlement, said two people familiar with the matter.

“The New York regulator held the guillotine and Standard Chartered decided to keep its neck out of it.

‘‘This isn’t over. This is the first shoe to drop; there are other shoes and the costs could well mount.

‘‘Next to come are the federal inquiries and the criminal inquiries, and possibly additional action from the state of New York.’’

To contact the reporter on this story: Susan Li in Hong Kong at sli31@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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