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Standard Chartered settlement

British bank Standard Chartered has reached a $340m settlement with the New York bank regulator. The settlement follow allegations the bank hid $250bn of transactions with the Iranian government, breaking US sanctions. The bank rejects the claims.

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Standard Chartered shares open higher after settlement

Standard Chartered suffered a huge stock drop after the allegations were made Credit: Reuters/Bobby Yip

Standard Chartered shares opened 5.15% higher in London trading this morning after yesterday's announcement of its settlement with New York regulators.

The British bank has agreed a $340 million settlement over allegations it hid $250 billion of transactions with the Iranian government.

However, shortly after opening the bank's shares slipped slightly to 1,412.50 - up 3.07% from yesterday's market close.

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