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Standard Chartered denies misleading investors in first response to UK damages claim

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Published on: 04 February 2022

Published by a LexisNexis Financial Services expert

Table of contents

Indonesia
Iran
Lawsuit

Article summary

Financial Services analysis: Standard Chartered has rejected claims that it misled investors over allegations of bribery in Indonesia and non-compliance with sanctions on Iran. Responding for the first time to a lawsuit filed by scores of institutional shareholders in 2021, the bank said it was ‘irrelevant’ that employees had known about a bribery scheme at an Indonesian power company because they did not have decision-making responsibility at the bank. It also said it had disclosed investigations into historic non-compliance with sanctions on Iran.

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