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...
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