By Chris Hughes
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
–Tim Dolan is a Partner in the Financial Markets team in King & Wood Mallesons SJ Berwin’s London office. The opinions expressed are his own.–
–Gregg Beechey is a Partner in the Financial Institutions Group at law firm King and Wood Mallesons SJ Berwin. The opinions expressed are his own.–
By Kathleen Brooks. The opinions expressed are her own.
Standard Chartered is the latest UK-based bank that seems to be getting it in the neck from our friends across the water. Firstly, there was Barclays and the Libor scandal, then there was HSBC which was fined for allowing drug-trafficked money from Mexico to go through its system and now there is Standard Chartered which is charged with “wilfully misleading” the New York Department of Financial Services and clearing $250 billion of Iranian transactions through its U.S. operation.
Last night’s two big Mansion House speeches were impressive when they dealt with the macroeconomy, but depressing (if unsurprising) on the subject of reforming the banks, representing final confirmation of the gloomy conclusion of a blog I posted here in September 2009: It’s All Over – the Banks Have Won.
Matthew Elderfield, Head of Financial Regulation at the Central Bank of Ireland, will lay out his vision for a new Irish regulatory landscape at a Thomson Reuters Newsmaker on Wednesday 6 April.