My Dollar, My Rules; Standard Chartered  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 404 no. 8797 (Aug. 2012), page 59-60.
Topik: Banks; Emerging Markets; Regulation; Foreign Investment; Economic Policy

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.73 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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In recent years Standard Chartered's shares have traded at a premium to its peers in large part because its businesses are focused on Africa, Asia and the Middle East. Although headquartered in London, only 5% of group pre-tax profit in 2011 directly stemmed from the Americas, Britain and Europe. The bank has been able to sell itself as a play on the bounciest parts of the world economy, and the ones least exposed to the Western regulatory minefield. No longer. The bank's shares swooned this week after the New York State Department of Financial Services (DFS) issued an inflammatory 27-page order, labelling Standard Chartered a "rogue" institution and accusing it of "grave violations of law" for allegedly hiding 60,000 transactions, totalling $250 billion, to enable Iran to evade American sanctions. That, the DFS said, exposed America's financial system to "terrorists, weapons dealers, drug kingpins and corrupt regimes". A footnote in the order said that in the course of investigating Iranian transactions, evidence was uncovered of similar "schemes" on behalf of other countries sanctioned by America, such as Libya and Myanmar.

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