Standard Chartered May Lose NY License

Standard Chartered Plc faces a suspension of its New York banking license over allegations that it violated federal money-laundering laws and conducted $250 billion of transactions with Iranian banks. The bank said in a statement that 99.9 percent of its transactions with Iran were in compliance with regulations and that the value of transactions that were not in compliance was less than $14 million. The bank also said it “strongly rejects” the New York regulator’s “portrayal of facts.” The company was down 13 percent in London trading as of 8:06 a.m., and it was headed for its biggest decline in nearly four years.