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Midweek Roundup: Standard Chartered’s DPA Extended by 3 Years, Citigroup’s Compliance-Related Legal Expenses Mount, and More
printU.S. and Manhattan officials have added three years to the terms of their original 2012 deferred prosecution of Standard Chartered Bank after discovering additional sanctions violations committed since 2007, the Guardian reported Tuesday. More Citigroup expects to incur up to $2.7 billion in legal expenses and $800 million in restructuring costs against fourth-quarter earnings, Forbes reported Tuesday. The costs stem in part from ongoing anti-money laundering (AML) investigations. More The bank is separately selling its Japanese retail operations, according to Dow Jones. The decision follows multiple enforcement actions levied by Japanese regulators against Citi over deficiencies in its AML controls....
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