Standard Chartered Probe Deal Said to Require Up to $700 Million

Standard Chartered Probe Deal Said to Require Up to $700 Million

Simon Dawson/Bloomberg

According to the order filed by Lawsky on Aug. 6, executives at Standard Chartered’s London headquarters adopted a policy to strip out the names of Iranian entities that needed to clear U.S. dollar payments from 2001 to 2007, so that U.S. bank overseers wouldn’t be aware of the Iranian connection.