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Standard Chartered reaches $340 million settlement over Iran

YEREVAN, August 15. /ARKA/. Standard Chartered Plc will pay $340 million to New York’s bank regulator over transactions linked to Iran, in a speedily arranged deal likely to cheer its shareholders, Reuters reports.

The deal with New York Superintendent of Financial Services Benjamin Lawsky still left the British bank facing a separate probe of Iran-linked transactions by other U.S. authorities.

The deal on Tuesday capped a week of transatlantic tension and a furor over why a state agency had upstaged the other authorities.

The resolution also averted a hearing on Wednesday at which the bank had been called to demonstrate why its license to do business in New York should not be revoked.—0–

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