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HSBC, Standard Chartered nearing settlement over Iran claims
- Iran: Sunday, December 09 - 2012 at 04:52
HSBC Holdings and Standard Chartered may settle US charges involving money-laundering violations and dollar-clearing transactions on behalf of Iranian clients as soon as next week, Bloomberg has reported, citing two people familiar with the negotiations. The agencies involved in the settlements include the US Treasury's Office of Foreign Assets Control, the Federal Reserve, the Justice Department and the New York District Attorney's office, according to the people. "As we've disclosed, we are cooperating with authorities in ongoing investigations," Robert Sherman, a spokesman for HSBC in New York, said. "The nature of any discussions is confidential."
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