StanChart to meet Britain’s financial watchdog over Indonesia probe

Standard Chartered (STAN.L) will meet Britain’s Financial Conduct Authority this week over allegations of corruption at an Indonesian power plant company majority-owned by its private equity arm, a source familiar with the matter said on Monday.

The bank in September last year told U.S. authorities about alleged misconduct at MAXpower Group Pte Ltd, which builds and operates gas-fired power plants in Southeast Asia.

A spokesman for StanChart declined to comment, while MAXpower could not immediately be reached.

Source: Reuters

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