Standard Chartered agrees settlement with New York regulator
14 August 2012 Last updated at 22:59 BST
Standard Chartered has agreed a $340m (£217m) settlement with New York regulators after accusations that it hid $250bn worth of transactions with Iran.
The bank had admitted that some of its transactions did break US sanctions, but said that the amount totalled just $14m.
A short statement from Standard Chartered simply confirmed a settlement of $340m had been reached.
Michelle Fleury reports