Standard Chartered shareholders show disapproval of four executives

Almost a quarter of investors abstain from vote on re-election of Bertamini, Bindra, Rees and ShankarShareholders have issued a rebuke to four Standard Chartered executives on the day the UK-based bank reported a rare drop in profits.Nearly a quarter of shareholders failed to back the re-election of Steve Bertamini, Jaspal Bindra, Mike Rees and Viswanathan […]
Continue reading…

Enjoyed this post? Share it!

 
 

Standard Chartered sued over 1983 marines bombing

Victims’ relatives claim British bank conspired to hide assets, as they try to enforce $2.6bn judgment against IranVictims’ relatives have filed a lawsuit seeking to hold Standard Chartered and its New York branch accountable in connection with a bombing of US marines in Lebanon in 1983.The families are seeking to trace assets as they try […]
Continue reading…

Enjoyed this post? Share it!

 
 

Standard Chartered CEO Peter Sands can forget career-enhancing moves

The bank’s chief may keep his job thanks to investors’ goodwill, but can forget aspirations to head Bank of EnglandIt is just a week since the CEO of Standard Chartered, Peter Sands, insisted that Benjamin Lawsky, of the New York Department of Financial Services, was talking utter rubbish. The bank, said Sands, had not concealed […]
Continue reading…

Enjoyed this post? Share it!

 
 

New York Standard Chartered allegations ‘blindsided’ US treasury

Sources familiar with Standard Chartered case say regulator ‘angered’ government with explosive attack on UK bankThe US Treasury and the Federal Reserve were blindsided and angered by the decision of a New York banking regulator to launch an explosive attack on Standard Chartered over $250bn in alleged money-laundering transactions tied to Iran, sources familiar with […]
Continue reading…

Enjoyed this post? Share it!

 
 

George Osborne seeks assurances from US over Standard Chartered claims

Tim Geithner tells chancellor that US regulators investigating handling of Iranian money will try to coordinate their actionsUS Treasury secretary Tim Geithner has reassured George Osborne that US regulators investigating breaches of sanctions by Standard Chartered will try to coordinate their actions.As the London-based bank prepares for a hearing with New York state’s department of […]
Continue reading…

Enjoyed this post? Share it!

 
 

Standard Chartered faces downgrading of credit rating

Claims that Standard Chartered broke US sanctions against Iran could lead to credit rating being downgrading, the agency Fitch warnedClaims that Standard Chartered broke US sanctions against Iran could result in its credit rating being downgraded, the agency Fitch warned on Thursday. The agency said it was still “too early” to judge the outcome and […]
Continue reading…

Enjoyed this post? Share it!

 
 

Standard Chartered shares rebound

Chief executive Peter Sands’s defence of bank in light of report by New York regulator sees market confidence riseIt was a better day for the defence. Standard Chartered’s share price rebounded 7%. Sir Mervyn King criticised the New York state department of financial services (DFS) for going solo before an investigation by five agencies has […]
Continue reading…

Enjoyed this post? Share it!

 
 

Standard Chartered chief says bank does not need to change culture

Peter Sands claims ‘factual inaccuracies’ in accusations by US regulator that bankers helped Iran avoid financial sanctionsPeter Sands, the chief executive of Standard Chartered, came out fighting against accusations by a US regulator that the British bank conspired with Iranian clients to move $250bn (£160bn) around the financial system for terrorists and “drug kingpins” as […]
Continue reading…

Enjoyed this post? Share it!

 
 

Banking: standards are slipping | Editorial

Dealings a long way from home no longer look like such a sure way of safeguarding a reputationBack in the not so distant days of 2008, the City blazed, but two towers of banking stood in splendid isolation from the inferno. As Lloyds, RBS and HBOS flared up and tumbled, neither HSBC nor Standard Chartered […]
Continue reading…

Enjoyed this post? Share it!

 
 

US regulators have Britain’s ‘wild west’ bank culture in their sights

Labour MP fears US regulators may targeting ‘wild west’ culture in City to grab business for New YorkThe Labour MP John Mann, an outspoken member of the Treasury select committee, has called for a government inquiry into money laundering, and outlined fears that US regulators have British banks in their sights as they try to […]
Continue reading…

Enjoyed this post? Share it!