Extension of U.S. Deferred Prosecution Agreements

RNS Number : 3522L

Standard Chartered PLC

21 December 2018

 

Extension of the U.S. Deferred Prosecution Agreements

LONDON, 21 December 2018 - Further to the legal and regulatory disclosures in its half year report and its Q3 Interim Management Statement dated 31 October 2018, Standard Chartered PLC ("the Group") announces it has agreed to an extension of its US Deferred Prosecution Agreements ("DPAs") until 31 March 2019.

The Group entered into the DPAs with the US Department of Justice and the New York County District Attorney's Office in December 2012. The agreements were subsequently extended until 31 December 2018.  The terms of the extension of the DPAs are materially the same as the prior extensions, and include an extension of the term of the independent monitor until 31 March 2019.  This extension does not affect the 31 December 2018 expiration of the term of the monitor appointed by the New York State Department of Financial Services, announced by the Group on 21 November 2018.

The Group continues to co-operate fully with an investigation by the US authorities into historical conduct and controls issues, which was first disclosed in 2014. The vast majority of the issues under investigation pre-date 2012, and none occurred after 2014. The Group is engaged in constructive discussions with relevant authorities to resolve the investigation as soon as practicable.

The Group will provide a further update as circumstances warrant. 

For further information, please contact: 

Duncan Hall - Investor queries

[e-mail]

[phone] 

Julie Gibson - Media queries  [e-mail]

[phone]

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