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SCB could be liable for books and records violations of private equity arm in Indonesia under US laws, experts say

By Phoebe Seers ( May 13, 2016, 08:13 GMT | Insight) -- For the purposes of prosecution under the US Foreign Corrupt Practices Act, Standard Chartered Bank could be liable for any books and records violations of its wholly owned subsidiary Standard Chartered Private Equity, in relation to allegations of bribery and accounting fraud at a power company in Indonesia, FCPA experts told MLex. The bank’s troubled history makes it all the more likely it could come under US scrutiny.For the purposes of prosecution under the US Foreign Corrupt Practices Act, or FCPA, Standard Chartered Bank, or SCB, could be liable for any books and records violations of its wholly owned subsidiary Standard Chartered Private Equity, or SCPE, in relation to allegations of bribery and accounting fraud at a power company in Indonesia, FCPA experts told MLex. The bank’s troubled history makes it all the more likely it could come under US scrutiny....

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