LONDON (Reuters) -Shares in Standard Chartered fell 7% on Friday after a U.S. Republican lawmaker wrote to the Attorney General Pam Bondi asking for action to be taken against the bank over alleged “ongoing sanctions evasion”.
Elise Stefanik, a New York Republican, requested in a letter shared on the X social media platform and published on her website that a special attorney be appointed to look into Standard Chartered’s alleged failings.
Standard Chartered did not immediately respond to a request for comment.
The bank’s shares, which had been about 1.5% lower earlier on Friday, plunged and were last down 7% at 1433 GMT. One trader linked the share move to the letter.
Like other European lenders, Standard Chartered’s stock has risen sharply this year and hit a near 12-year high earlier this week.
(Reporting by Iain Withers, Alun John and Samuel Indyk; Editing by Tommy Reggiori Wilkes)