Standard Chartered’s N.Y Case Ends as Federal Probes Loom

Standard Chartered Plc, having settled a New York money laundering probe for $340 million the day before it was to defend its right to operate in the state, still faces federal inquiries over claims it helped sanctioned nations including Iran illegally funnel money through the U.S.

Regulators including the U.S. Treasury, Federal Reserve, Justice Department and Manhattan District Attorney declined immediate attempts at a global settlement, said two people familiar with the matter. A coordinated effort was already in progress before New York’s unilateral deal, announced yesterday by financial regulator Benjamin Lawsky, one of the people said.