Standard Chartered PLC (the Group) has agreed to an extension of its US Deferred Prosecution Agreements (DPAs) until March 31, 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 December 31, 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 March 31, 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 November 21, 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.
Standard Chartered PLC operates through a number of subsidiaries including SCB, one of the leading international banking and financial services company. SCB particularly focuses on the markets of Asia, Africa and the Middle East.
