Standard Chartered faces £10m Treasury fine for 'sanctions breaches'

Pedro Gonçalves
clock • 2 min read

Standard Chartered faces a fine of more than £10m by the Office of Financial Sanctions Implementation (OFSI) for allegedly failing to prevent sanctions breaches. The London-based bank, with a significant presence in the Far East and Asian markets, has been told by the Treasury organisation that it intends to impose the penalty in the coming weeks, Sky News reported. The impending fine deals another blow to Winters, 57, whose outsized pension payments have caused a row with investors. Winters exacerbated the dispute last month when he branded some shareholders "immature" for picking...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?