Editing Standard Chartered (section)

==History==
[[File:Beach Street Penang Dec 2006 009.jpg|thumb|Standard Chartered Bank Building in [[George Town, Penang|George Town]], [[Penang]], [[Malaysia]].]]

===Predecessors===
====Chartered Bank====
{{main|Chartered Bank of India, Australia and China}}
The Chartered Bank began when [[Queen Victoria]] granted a [[royal charter]] to Scotsman [[James Wilson (UK politician)|James Wilson]] in 1853. Chartered opened its first branches in [[Mumbai|Bombay]], [[Kolkata|Calcutta]], and Shanghai in 1858; branches in [[Hong Kong]] and [[Singapore]] followed in 1859. The bank started issuing banknotes denominated in [[Hong Kong dollar]]s in 1862.<ref name="history" />

====Standard Bank====
{{main|Standard Bank (historic)}}
The Standard Bank was a British bank founded in the [[Cape Province]] of [[South Africa]] in 1862 by Scot, [[John Paterson (Cape politician)|John Paterson]].<ref>{{Cite book |last=Amphlett |first=George Thomas |url=https://archive.org/details/historyofstandar00amphuoft |title=History of the Standard Bank of South Africa ltd., 1862-1913 |publisher=Printed by R. Maclehose |year=1914 |location=Glasgow |page=[https://archive.org/details/historyofstandar00amphuoft/page/3 3]}}</ref> Having established a considerable number of branches Standard was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of [[Johannesburg]] when gold was discovered there in 1885. Half the output of the second largest gold field in the world passed through the Standard Bank on its way to [[London]]. Standard expanded widely in [[Africa]] over the years, but from 1883 to 1962 was formally known as the Standard Bank of South Africa. In 1962 the bank changed its name to Standard Bank Limited, and the [[South Africa]]n operations became a separate subsidiary that took the parent bank's previous name, [[Standard Bank|Standard Bank of South Africa]] Ltd.<ref name="history" />

===1969 to 2000===
[[Image:Standard Chartered Bank Building.jpg|thumb|[[Standard Chartered Bank Building]] in [[Central, Hong Kong|Central]], [[Hong Kong]]]]
Both banks acquired other smaller banks along the way and spread their networks further. In 1969, the banks decided to merge and to counterbalance their network by expanding in Europe and the United States, while continuing expansion in their traditional markets in Asia and Africa.<ref name="history" />

In 1986, [[Lloyds Bank (historic)|Lloyds]] made a [[hostile takeover]] bid for the Group.<ref>{{Cite news |date=28 June 1986 |title=Offer sweetened by Lloyds Bank |work=The New York Times |url=https://query.nytimes.com/gst/fullpage.html?res=9A0DE1DF113DF93BA15755C0A960948260 |access-date=2 May 2010}}</ref> The bid was defeated; however, it spurred Standard Chartered into a period of change, including a series of divestments notably in the US and South Africa. It sold [[MUFG Union Bank|Union Bank]] to [[The Bank of Tokyo-Mitsubishi UFJ|Bank of Tokyo]] and United Bank of Arizona to [[Citicorp]].<ref name="auto">{{Cite news |last=FRANTZ |first=DOUGLAS |date=1988-02-17 |title=Japanese to Pay $750 Million for Union Bank |work=Los Angeles Times |url=https://www.latimes.com/archives/la-xpm-1988-02-17-mn-29370-story.html |access-date=2014-10-20 |issn=0458-3035}}</ref>

In 1986, a business consortium purchased a 35% stake to fend off Lloyds. A member of this consortium was [[Singaporean]] property tycoon [[Khoo Teck Puat]], who purchased 5% of the bank's shares, which he later increased to 13.4%.<ref name="Tan Sri Khoo Teck Puat">{{Cite web |date=2 March 2004 |title=Tan Sri Khoo Teck Puat |url=https://www.telegraph.co.uk/news/obituaries/1455763/Tan-Sri-Khoo-Teck-Puat.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/news/obituaries/1455763/Tan-Sri-Khoo-Teck-Puat.html |archive-date=11 January 2022 |url-access=subscription |url-status=live |access-date=26 March 2016 |website=The Telegraph}}{{cbignore}}</ref>

In 1987, Standard Chartered sold its remaining interests in the South African bank; since then the [[Standard Bank Group]] has been a separate entity.<ref>{{Cite web |title=Historical overview |url=http://www.standardbank.com/SB-Historical-Overview-6th-ed-2009.pdf |url-status=unfit |archive-url=https://web.archive.org/web/20120113034632/http://www.standardbank.com/SB-Historical-Overview-6th-ed-2009.pdf |archive-date=13 January 2012 |access-date=26 March 2016 |publisher=Standard Bank}}</ref>

In 1992, scandal broke when banking regulators charged several employees of Standard Chartered in [[Mumbai]] with illegally diverting depositors' funds to speculate in the stock market. Fines by Indian regulators and provisions for losses cost the bank almost £350&nbsp;million, at that time fully a third of its capital.<ref>{{Cite web |date=22 December 1993 |title=India Blames 4 Big Banks in Scandal |url=https://www.nytimes.com/1993/12/22/business/company-news-india-blames-4-big-banks-in-scandal.html |access-date=26 March 2016 |website=New York Times}}</ref>

In 1994, London's ''Sunday Times'' reported that an executive in the bank's metals division had bribed officials in Malaysia and the Philippines to win business. The bank, in a statement on 18 July 1994, acknowledged that there were "discrepancies in expense claims [that] ... included gifts to individuals in certain countries to facilitate business, a practice contrary to bank rules".<ref>{{Cite web |title=Sucheta Dalal :Standard Chartered tries to cover up its messy past but SEBI is in a slumber |url=http://www.suchetadalal.com/?id=884a0238-d01e-46b7-4bc5d9b349c7&base=sections&f |access-date=21 March 2015 |website=suchetadalal.com}}</ref>

In 1994, the Hong Kong [[Securities and Futures Commission]] found Standard Chartered's Asian investment bank to have illegally helped to artificially support the price of new shares they had underwritten for six companies from July 1991 to March 1993. The bank admitted the offence, apologized, and reorganized its brokerage units. The commission banned the bank from underwriting IPOs in Hong Kong for nine months.<ref>{{Cite web |date=29 June 1994 |title=Hong Kong Disciplines Standard Chartered PLC |url=https://www.nytimes.com/1994/06/29/business/worldbusiness/29iht-stand.html |access-date=26 March 2016 |website=New York Times}}</ref>

In 1997, Standard Chartered sold Mocatta Bullion and Base Metals, its metals division, to [[Toronto]]-based [[Scotiabank]] for [[US$]]26&nbsp;million.<ref>{{Cite web |date=29 September 2009 |title=Scotiabank to Launch the ScotiaMocatta eStore in Canada - a New Full-Service Online Precious Metals Delivery Channel |url=http://www.newswire.ca/news-releases/scotiabank-to-launch-the-scotiamocatta-estore-in-canada---a-new-full-serviceonline-precious-metals-delivery-channel-538622121.html |access-date=26 March 2016 |publisher=Newswire}}</ref>

Standard Chartered's Asian investment banking operations never recovered.<ref>{{Cite news|last=Elder|first=Bryce|date=2021-08-03|title=StanChart still searching for the right path to recovery|work=Financial Times|url=https://www.ft.com/content/9b58f8b3-6211-4bd2-9d29-7d8a9b3ec24f |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/9b58f8b3-6211-4bd2-9d29-7d8a9b3ec24f |archive-date=10 December 2022 |url-access=subscription|access-date=2022-01-20}}</ref> In 2000, the bank closed them down.<ref name="bloomberg.com">{{Cite news |last=Lee |first=Yoolim |date=3 November 2009 |title=Standard Chartered 79% Return Overtakes HSBC With Asian Rebound |publisher=Bloomberg L.P. |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=amezAf6Zd9hU&refer=china |access-date=19 April 2011}}</ref>

===2000 to 2010===
[[File:Marina Bay Financial Centre (8107762133).jpg|thumbnail|left|[[Standard Chartered Singapore]] corporate office in [[Marina Bay Financial Centre]], [[Singapore]]]]

[[File:Standard Chartered.svg|left|thumb|Standard Chartered logo from 2002 to 2021]]
In 2000, Standard Chartered acquired [[Grindlays Bank]] from [[ANZ Bank|ANZ]], increasing its presence in private banking and further expanding its operations in India and Pakistan. Standard Chartered retained Grindlays' private banking operations in London and [[Luxembourg]], as well as the subsidiary in [[Jersey]], all of which were integrated into its own private bank. This now serves [[High-net-worth individual|high-net-worth]] customers in Hong Kong, [[Dubai]], and [[Johannesburg]] under the name Standard Chartered Grindlays Offshore Financial Services.<ref>{{Cite web |date=28 April 2000 |title=Standard Chartered snaps up Grindlays |url=https://www.theguardian.com/business/2000/apr/28/15 |access-date=26 March 2016 |website=The Guardian}}</ref>

Leading to the incorporation of [[Standard Chartered Hong Kong|Standard Chartered (Hong Kong)]] on 1 July 2004, the [[Legislative Council of Hong Kong]] amended Legal Tender Notes Issue Ordinance. The amendment replaced Standard Chartered Bank with its newly incorporated subsidiary - Standard Chartered Bank (Hong Kong) Ltd - as one of the [[banknotes of the Hong Kong dollar|note-issuing banks in Hong Kong]].<ref name="GT-DEX-2004-CN-MP-XHKD-01">{{Cite web |title=Cap 65 - Legal tender notes issue Ordinance |url=http://www.legislation.gov.hk/blis_pdf.nsf/CurAllEngDoc/8850FA52388F223C482575EE0036B8BB/$FILE/CAP_65_e_b5.pdf |access-date=7 September 2012}}</ref> The same year, Standard Chartered Bank and [[Astra International]] (an Indonesian conglomerate, a subsidiary of [[Jardine Matheson]]) took over [[Bank Permata|PermataBank]] and in 2006, both shareholders increased their joint ownership to 89.01%. With 276 branches and 549 ATMs in 55 cities throughout Indonesia, PermataBank has the second largest branch network in Standard Chartered organization.<ref>{{Cite web |date=14 April 2011 |title=PermataBank in Brief |url=http://www.permatabank.com/en/corporateprofile/1/index.html |url-status=dead |archive-url=https://web.archive.org/web/20110222211416/http://www.permatabank.com/en/corporateprofile/1/index.html |archive-date=22 February 2011 |access-date=19 April 2011 |publisher=Permatabank.com}}</ref>

On 15 April 2005, the bank acquired [[Korea First Bank]], beating [[HSBC]] in the bid.<ref>{{Cite web |title=Standard Chartered buys Korea First Bank |url=http://www.standardchartered.com/en/news-and-media/news/asia/2012-01-11-korea-re-brand.html |access-date=16 August 2012 |publisher=Standardchartered.com}}</ref> The bank has since rebranded the branches as '''SC First Bank'''. Standard Chartered completed the integration of its [[Bangkok]] branch and Standard Chartered Nakornthon Bank in October, renaming the new entity [[Standard Chartered Bank (Thailand)]].<ref>{{Cite web |date=29 April 2004 |title=Standard Chartered to Merge Its Branch with Local Subsidiary in Thailand |url=http://www.highbeam.com/doc/1G1-118462616.html |url-status=dead |archive-url=https://web.archive.org/web/20121023115057/http://www.highbeam.com/doc/1G1-118462616.html |archive-date=23 October 2012 |access-date=19 April 2011 |publisher=Highbeam.com}}</ref> Standard Chartered also formed strategic alliances with [[Fleming Family & Partners]] to expand private wealth management in Asia and the Middle East, and acquired stakes in [[Asia Commercial Bank|ACB]] in Vietnam, Travelex, [[American Express Financial Advisors|American Express Bank]] ([[Bangladesh]]), and [[Bohai Bank]] (China). The largest shareholder, billionaire [[Khoo Teck Puat]], died in 2004; and two years later, on 28 March 2006, the [[Singapore]] state-owned private investment firm, [[Temasek]], became the bank's largest shareholder when it bought the 11.55% stake held by Khoo Teck Puat's estate.<ref name=SC-H-19/><ref name=SC-H-20/><ref name=SC-H-21/>

[[Image:Guangzhou Tianhe Branch, Standard Chartered Bank China 20090403.jpg|thumb|right|Standard Chartered Bank China in Guangzhou]]
On 9 August 2006, [[Standard Chartered Bank Limited|Standard Chartered]] announced it had acquired an 81% shareholding in the [[Union Bank of Pakistan]] in a deal ultimately worth [[USD|$]]511&nbsp;million. This deal represented the first acquisition by a foreign firm of a Pakistani bank. The merged bank, [[Standard Chartered Bank (Pakistan)]], is now Pakistan's sixth largest bank.<ref>{{Cite web |date=6 September 2006 |title=Standard Chartered acquires Union Bank |url=http://www.dawn.com/news/209085/standard-chartered-acquires-union-bank |access-date=26 March 2016 |publisher=Dawn}}</ref>

On 22 October 2006, Standard Chartered announced that it had received tenders for more than 51% of the issued share capital of Hsinchu International Bank ("Hsinchu"), established in 1948 in [[Hsinchu|Hsinchu, Taiwan]].<ref>{{Cite web |date=29 September 2006 |title=Standard Chartered to buy Hsinchu |url=http://www.ibtimes.com/articles/20060929/standard-chartered-plc-hsinchu-international-bank.htm |access-date=19 April 2011 |publisher=Ibtimes.com}}</ref>

In 2007, Standard Chartered opened its Private Banking global headquarters in [[Singapore]].<ref>{{Cite web |title=Standard Chartered sets up private banking HQ in Singapore |url=http://www.newsgd.com/business/enterprise/200705290048.htm |access-date=19 April 2011 |publisher=Newsgd.com}}</ref>

On 23 August 2007, Standard Chartered entered into an agreement to buy a 49% share of an Indian brokerage firm (UTI Securities) for $36&nbsp;million in cash from Securities Trading Corporation of India Ltd., with the option to raise its stake to 75% in 2008, and, ''if'' both partners were in agreement, to 100% by 2010.<ref>{{Cite web |date=24 August 2007 |title=Standard Chartered to buy 49% of UTI Securities |url=http://www.thehindubusinessline.com/2007/08/24/stories/2007082452431500.htm |access-date=19 April 2011 |publisher=Thehindubusinessline.com}}</ref>

On 29 February 2008, Standard Chartered PLC announced it had received all the required approvals leading to the completion of its acquisition of [[American Express Bank Ltd]] (AEB) from the [[American Express Company]] (AXP). The total cash consideration for the acquisition is US$823&nbsp;million.<ref>{{Cite news |last=Clark |first=Andrew |date=18 September 2007 |title=Standard Chartered buys American Express Bank |work=The Guardian |location=London |url=https://www.theguardian.com/business/2007/sep/18/9 |access-date=2 May 2010}}</ref><ref>{{Cite news |title=Frequently Asked Questions on the Standard Chartered Bank acquisition of American Express Bank |work=AmericanExpress.com |url=http://cmax.americanexpress.com/Internet/PrivateBank/pdf/SCB_AEB_Client_FAQ.pdf |url-status=dead |access-date=11 January 2012 |archive-url=https://web.archive.org/web/20130510213731/http://cmax.americanexpress.com/Internet/PrivateBank/pdf/SCB_AEB_Client_FAQ.pdf |archive-date=10 May 2013}}</ref><ref>{{Cite news |title=Auditors' Report on the financial statements of Standard Chartered Bank – India Branches under Section 30 of the Banking Regulation Act, 1949, p. 7, Economic & Political Weekly EPW 28 June 2008 |work=standardchartered.co.in |url=http://www.standardchartered.co.in/_documents/tools-utilities/ar_0607.pdf |access-date=11 January 2012}}</ref><ref>{{Cite news |date=18 September 2007 |title=Standard Chartered to Buy American Express Bank Unit (Update4) |work=Bloomberg.com |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOBVUiA74YbE&refer=home |access-date=11 January 2012}}</ref><ref>{{Cite news |title=Standard Chartered completes acquisition of American Express Bank for $823 million |work=standardchartered.com |url=http://www.standardchartered.com/vn/latest-news/03-08-completes-acquisition-of-american-express-bank/en |access-date=11 January 2012 |archive-date=12 September 2011 |archive-url=https://web.archive.org/web/20110912121655/http://www.standardchartered.com/vn/latest-news/03-08-completes-acquisition-of-american-express-bank/en/ |url-status=dead }}</ref>

On 13 November 2008, Standard Chartered Bank (Hong Kong) Limited, entered into an agreement with [[J.P. Morgan Cazenove|JPMorgan Cazenove]] to acquire 100% of Cazenove Asia Limited, an Asian equity [[capital market]]s, [[corporate finance]], and institutional brokerage business.<ref>{{Cite web |title=Standard Chartered to acquire Cazenove Asia Limited |url=http://www.standardchartered.com.hk/news/2008/press_20081113.pdf |access-date=16 August 2012 |archive-date=10 March 2012 |archive-url=https://web.archive.org/web/20120310150554/http://www.standardchartered.com.hk/news/2008/press_20081113.pdf |url-status=dead }}</ref>

On 27 November 2009, ''[[Dow Jones & Company|Dow Jones]] Financial News'' reported that Dubai will restructure its largest corporate entity. Among international banks, Standard Chartered has one of the largest loan portfolios in the Dubai market and the UAE as a whole, estimated to be [[USD|$]]7.77&nbsp;billion in total. This amounts to 4.2% of Standard Chartered's total loans outstanding. Other impacted banks included [[HSBC]], [[Barclays]], and [[Royal Bank of Scotland|RBS]]. The bank stated that any impairment arising from this exposure would not be material.<ref>{{Cite news |last=Poon |first=Aries |date=21 December 2010 |title=Lender says no material impairment from Dubai |work=The Wall Street Journal |url=https://www.wsj.com/articles/SB10001424052748704240504574585451907841622 |access-date=19 April 2011}}</ref>

===2010 to present===
[[Image:Standard Chartered Bank Tower.jpg|right|thumb|Standard Chartered Bank Tower in [[Lujiazui]], [[Pudong|Pudong, Shanghai]], People's Republic of China]]
Standard Chartered announced an agreement on 27 April 2010 to buy the African custody business from Barclays PLC.<ref>{{Cite web |title=Press release |url=http://wholesalebanking.standardchartered.com/en/mediacentre/pressreleases/Pages/28042010.aspx |access-date=19 April 2011 |publisher=Wholesalebanking.standardchartered.com}}</ref> On 13 May 2010, Standard Chartered PLC launched the first-ever Indian Depository Receipt "IDR" offer.<ref>{{Cite web |date=13 May 2010 |title=Media Centre – 2010 Press Releases |url=http://www.standardchartered.com/media-centre/press-releases/2010/documents/20100513/index.html |access-date=19 April 2011 |publisher=Standardchartered.com}}</ref>

On 17 June 2010, Standard Chartered Bank and the [[Agricultural Bank of China]] (ABC) entered into a strategic alliance meant to strengthened their strategic partnership and identify joint business opportunities.<ref>{{Cite web |title=ABC joins hands with Standard Chartered |url=http://www.chinadaily.com.cn/business/2010-06/18/content_9987769.htm |access-date=2017-09-08 |website=www.chinadaily.com.cn}}</ref> Joint business and cooperation task forces were set up in October that year to define the direction of the partnership and explore joint ventures.<ref>{{Cite web |date=18 October 2010 |title=STANDARD CHARTERED BANK AND AGRICULTURAL BANK OF CHINA FURTHER SOLIDIFYING STRATEGIC COOPERATION |url=https://www.sc.com/global/av/cn-en-news-media-101018.pdf |access-date=8 September 2017 |website=Standard Chartered}}</ref> The committee was to be co-chaired by [[Peter Sands (banker)|Peter Sands]], CEO of Standard Chartered, and [[Zhang Yun (banker)|Zhang Yun]], President of ABC.<ref>{{Cite web |date=17 June 2010 |title=Standard Chartered Bank Press Releases – 2010 |url=http://www.standardchartered.com/media-centre/press-releases/2010/documents/20100617/index.html |access-date=19 April 2011 |publisher=Standardchartered.com}}</ref>

In December 2010, Standard Chartered was recognised as the Global Bank of the Year in ''The Banker''{{'}}s Bank of the Year 2010 awards.<ref>[http://www.thebanker.com/Awards/The-Bank-of-The-Year-Awards The Bank of the Year Awards], ''The Banker''</ref> Standard Chartered also was named [[The Banker]]'s inaugural winners of the Global and European Transaction Bank of the Year awards in September 2014, largely "on the basis of its work in emerging markets, particularly Asia".<ref>{{Cite web |title=Transaction Banking Awards 2014 |url=http://www.thebanker.com/Awards/Transaction-Banking-Awards-2014/Transaction-Banking-Awards-2014 |access-date=17 September 2014 |publisher=[[The Banker]]}}</ref>

In January 2015, the company announced that it was exiting the money-losing "[[equity capital markets]] business completely", "becoming one of the first global banks" to do so.<ref name="white2015" /> In November that year, the bank announced that it would cut 15,000 jobs, including one thousand senior jobs, "from managing director up to board executives".<ref>{{Cite news |last=Kamal |first=Ahmed |date=3 November 2015 |title=Standard Chartered shares sink on shock quarterly loss |publisher=BBC |url=https://www.bbc.co.uk/news/business-34707288}}</ref> The cuts followed a change of CEO after profit warnings and money laundering fines in the first half of the year.<ref>{{Cite news |last=Goodway |first=Nick |date=9 October 2015 |title=Bonfire of 1000 top bankers at StanChart |page=47 |work=London Evening Standard}}</ref>

In 2016, Standard Chartered announced that it would stop providing loans to the midstream segment of the [[diamond]]s and [[jewellery]] industries.<ref name=":0">{{Cite news |date=14 June 2016 |title=Standard Chartered finds diamonds no longer a bank's best friend |work=Reuters |url=https://www.reuters.com/article/stanchart-diamonds/standard-chartered-finds-diamonds-no-longer-a-banks-best-friend-idUSL4N1963LD |access-date=2017-09-08}}</ref> The announcement was the result of a review of the bank's involvement in risky business sectors.<ref name=":0" /> In 2017, the bank was reported to have lost $400 million on risky diamond debt on a portfolio of loans that was once worth $3 billion.<ref name=":1">{{Cite news |date=2017-09-07 |title=How Standard Chartered Lost $400 Million on Risky Diamond Debt |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2017-09-07/how-standard-chartered-lost-400-million-on-risky-diamond-debt |access-date=2017-09-08}}</ref> Owing to [[Default (finance)|defaults]] of jewellery and diamond companies from 2013 onwards, Standard Chartered is currently estimated to have $1.7 billion of diamond debt still to be repaid.<ref name=":1" />

The company received criticism in April 2017 from the [[Institutional Shareholder Services]] (ISS). The investor advisory firm told shareholders it was concerned that targets set for the top bosses in the bank's long-term incentive plan (LTIP) were not demanding enough. Bill Winters, the chief executive, stands to net share awards with a face value of as much as £4.4m from the scheme, while Andy Halford, the chief financial officer, could receive £2.7m.<ref>{{Cite web |last=Ben Martin |date=2017-04-29 |title=Pressure piled on Standard Chartered over £7m bonuses |url=https://www.telegraph.co.uk/business/2017/04/29/pressure-piled-standard-chartered-7m-bonuses/ |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/business/2017/04/29/pressure-piled-standard-chartered-7m-bonuses/ |archive-date=11 January 2022 |url-access=subscription |url-status=live |access-date=2017-09-05 |website=Telegraph}}{{cbignore}}</ref>

In February 2025 Standard Chartered, [[Animoca Brands]] and [[Hong Kong Telecom]] establish joint venture to issue a HKD-backed [[stablecoin]].<ref>{{Cite web|url=https://ibsintelligence.com/ibsi-news/standard-chartered-leads-hong-kongs-stablecoin-push-with-animoca-hkt/|title=Standard Chartered leads Hong Kong's Stablecoin push with Animoca & HKT|website=IBS Intelligence}}</ref>

====Money-laundering charges====
On 6 August 2012, the [[New York State Department of Financial Services|New York Department of Financial Services]] (DFS), led by [[Benjamin Lawsky]], accused Standard Chartered of hiding $250&nbsp;billion in transactions involving Iran, labelling it a "rogue institution". The bank was ordered to appear and defend its actions, or risk losing its license to operate in the state of [[New York (state)|New York]]. The DFS said it had documents showing a cover up of transactions allegedly used to fund terrorist groups in the Middle East.<ref name="GT-DEX-2012-CHS-01">{{Cite news |date=16 August 2012 |title=Standard Chartered may lose NY license over Iran ties |publisher=Reuters.com |url=https://www.reuters.com/article/us-standardchartered-iran-idUSBRE8750VM20120806?feedType=RSS&feedName=topNews&rpc=71 |access-date=16 August 2012}}</ref>

On 14 August 2012, Lawsky announced that the DFS and Standard Chartered reached a settlement that allows the bank to keep its licence to operate in New York. According to the terms of the settlement, the bank agreed to pay a $340 million fine.<ref name="NYT">[https://www.nytimes.com/2012/08/15/business/standard-chartered-settles-with-new-york-for-340-million.html?hp "British Bank in $340 Million Settlement for Laundering"], ''[[New York Times]]'', 14 August 2012. Retrieved 14 August 2012.</ref>

The bank agreed to install a monitor to oversee the bank's money laundering controls for at least two years, and appoint "permanent officials who will audit the bank's internal procedures to prevent offshore money laundering".<ref name="NYT" /> The monitor will report directly to the DFS.<ref>[http://www.nypost.com/p/news/business/standard_charter_to_pay_fine_rpycg1noycXdv7imdt5Z0H "Standard Charter to pay $340M fine"], ''[[New York Post]]'', 14 August 2012. Retrieved 15 August 2012</ref> Lawsky's statement said "the parties have agreed that the conduct at issue involved transactions of at least [[USD|$]]250bn."<ref name="BBC">[https://www.bbc.co.uk/news/business-19253666 Standard Chartered agrees settlement with New York regulator], 14 August 2012. Retrieved 14 August 2012.</ref> The bank issued a statement confirming that a settlement with the DFS had been reached and that "a formal agreement containing the detailed terms of the settlement is expected to be concluded shortly".<ref name="BBC" />

Other US agencies—including the [[Federal Reserve]], the [[Federal Bureau of Investigation]], the [[United States Department of the Treasury|Treasury Department]], and the [[United States Department of Justice|Justice Department]]—had also begun investigations into the laundering allegations and were reportedly taken off guard by the speed of the settlement.<ref name="NYT" />

The Treasury stated that its own investigation of Standard Chartered will continue.<ref name="WSJ">[https://www.wsj.com/articles/SB10000872396390444318104577589380427559426 "Standard Chartered to Pay $340 Million to Settle New York Case"], ''[[Wall Street Journal]]'', 14 August 2012. Retrieved 14 August 2017.</ref> Several financial analysts predicted that, due to its strong financial position, the bank would be able to easily cover the [[USD|$]]900 million fine without having to raise extra capital.<ref name="WSJ" />

On 6 August 2014, Lawsky was reported to be preparing a new action against Standard Chartered over computer system breakdowns and was "discussing a potential settlement".<ref>{{Cite news |last1=Silver-Greenberg |first1=Jessica |last2=Protess |first2=Ben |date=5 August 2014 |title=British Bank Standard Chartered Faces Action, Again, by New York State |work=[[The New York Times]] |url=https://dealbook.nytimes.com/2014/08/05/standard-chartered-bank-once-again-faces-action-by-new-york-state/ |access-date=6 August 2014}}</ref>

On 19 August 2014, the bank was fined $300 million by the [[New York Department of Financial Services]] for breach of money-laundering compliance related to potentially high-risk transactions involving Standard Chartered clients in Hong Kong and the UAE. The bank issued a statement accepting responsibility and regretting the deficiencies, at the same time noting the ruling would not jeopardize its U.S. licenses.<ref name="StandardChartered">{{Cite news |date=19 August 2014 |title=US regulators ask Standard Chartered to pay $300 mn penalty |publisher=newyorkcitynews.net |url=http://www.newyorkcitynews.net/index.php/sid/224901163 |access-date=19 August 2014}}</ref><ref>{{Cite news |last1=Protess |first1=Ben |last2=Bray |first2=Chad |date=19 August 2014 |title=Caught Backsliding, Standard Chartered Is Fined $300 Million |work=The New York Times |url=https://dealbook.nytimes.com/2014/08/19/standard-chartered-in-deal-with-new-york-regulator/?_php=true&_type=blogs&module=Search&mabReward=relbias%3Ar%2C%7B%221%22%3A%22RI%3A6%22%7D&_r=0 |access-date=21 August 2014 |archive-url=https://web.archive.org/web/20140821072359/http://dealbook.nytimes.com/2014/08/19/standard-chartered-in-deal-with-new-york-regulator/?_php=true&_type=blogs&module=Search&mabReward=relbias%3Ar%2C%7B%221%22%3A%22RI%3A6%22%7D&_r=0 |archive-date=21 August 2014}}</ref>

In April 2019, it was reported that Standard Chartered may have to pay approximately $1 billion to settle its ongoing investigations in the US and UK. Earlier in February the company had set aside $900 million towards resolution of violations of U.S. sanctions and forex trading regulations. The company also faces a penalty of roughly $134 million from the United Kingdom's [[Financial Conduct Authority]] related to historical financial crime controls which takes the amount to over $1 billion.<ref>{{Cite web |last=CNBC |date=2019-04-08 |title=Standard Chartered expected to pay over $1 billion to resolve probes |url=https://www.cnbc.com/2019/04/08/standard-chartered-expected-to-pay-over-1-billion-to-resolve-probes.html |access-date=2019-04-09 |website=www.cnbc.com}}</ref>

In March 2025, Standard Chartered launched an exclusive investment platform club for its ultra-high-net-worth clients as part of its business restructuing switching focus towards wealth management.<ref>{{cite news |title=Standard Chartered launches exclusive investment club for ultra-wealthy clients |url=https://www.channelnewsasia.com/business/standard-chartered-launches-exclusive-investment-club-ultra-wealthy-clients-4992101 |access-date=11 March 2025 |work=CNA |language=en}}</ref><ref>{{cite news |title=Standard Chartered launches exclusive investment club for ultra-wealthy clients |url=https://www.reuters.com/business/finance/standard-chartered-launches-exclusive-investment-club-ultra-wealthy-clients-2025-03-11/ |access-date=11 March 2025 |work=Reuters |date=11 March 2025}}</ref>