Standard Chartered closes Guernsey trust business

clock • 1 min read

Standard Chartered confirmed today that its Guernsey trust business has been liquidated following at the bank's request. In a statement on its website Standard Chartered confirmed today that the royal court of Guernsey liquedated the UK bank's trust business on 19 May. The Guernsey Financial Services Commission fined Standard Chartered's Guernsey arm £140,000 for what the Guernsey FSC described as "a result of historical failures to meet the minimum criteria for licensing in respect of Schedule 1 of the Regulation of Fiduciaries, Administration Businesses and Company Directors, (Baili...

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?

Login

Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.