tybs
Standard Chartered to pay $1.1 billion for sanctions violations
WASHINGTON (Reuters) - London-based Standard Chartered PLC has agreed to pay U.S. and British authorities $1.1 billion over violations of sanctions on Iran and other countries, several government agencies said on Tuesday.
The penalty, which resolves an investigation that began some five years ago, was split between the U.S. Department of Justice, the U.S. Department of Treasury’s Office of Foreign Assets Control, the New York County District Attorney’s Office, the New York State Department of Financial Services, and the Britain’s Financial Conduct Authority (FCA).
In a statement on Tuesday, Standard Chartered said it accepted full responsibility for the violation, the vast majority of which predated 2012 and none of which occurred after 2014. The bank said it had cooperated proactively and fully with the authorities’ investigations.
“The circumstances that led to today’s resolutions are completely unacceptable and not representative of the Standard Chartered I am proud to lead today,” Bill Winters, group chief executive, said in a statement.
The bank has been operating under a deferred prosecution agreement with U.S. authorities since 2012, when it paid $667 million for illegally moving millions of dollars through the U.S. financial system on behalf of customers in Iran, Sudan, Libya and Myanmar, formerly known as Burma.
The agreement has been extended numerous times, most recently for 10 days and set to expire on Wednesday.
Standard Chartered said in February it had set aside $900 million for the potential resolution of violations of U.S. sanctions and foreign exchange trading. That sum also included the FCA penalty.
https://www.reuters.com/article/us-stanchart-sanctions-settlement-fed/standard-chartered-to-pay-1-1-billion-for-sanctions-violations-idUSKCN1RL1TV?feedType=RSS&feedName=topNews
(a good start but moar of them need to pay bigger fines)
you have the trucks all ready and waiting.
You didn't think those were picking up debris now did you?
Don't know who. Someone from east coast may be moar familiar. All too 'neat' the way that was done.
https://www.secform4.com/
WTF Chart Of The Day
Having surpassed the key 200-day moving-average (and $200 level), risen for 10 straight days (longest since 2010), and up almost 43% from the start-of-January lows, Apple's Tim Cook must be laughing all the way to the bank.
But, amid price-cuts, uninspiring product launches, and overseas demand concerns, analysts don't seem to be buying what Cook is selling.
(Apple dropped guidance on January 2nd and in Q4 earnings report revs in china were down 27%)- see highlighted area
Behold, the miracle of buybacks!!
WTF indeed?
https://www.zerohedge.com/news/2019-04-09/wtf-chart-day
https://finance.yahoo.com/quote/AAPL?p=AAPL
The Ugly Truth Behind Stock Buybacks
American companies have been spending wildly lately, but that cash isn’t being used for R&D or innovation. Rather, it’s being spent to buy up gobs of company stock.
In November 2016, Goldman Sachs’ chief equity strategist David Kostin estimated that, in 2017, S&P 500 companies will spend $780 billion on buybacks — a new record.
That’s crazy.
For most of the 20th century, stock buybacks were deemed illegal because they were thought to be a form of stock market manipulation. But since 1982, when they were essentially legalized by the SEC, buybacks have become perhaps the most popular financial engineering tool in the C-Suite tool shed. And it’s obvious why Wall Street loves them: Buying back company stock can inflate a company’s share price and boost its earnings per share — metrics that often guide lucrative executive bonuses.
rest at link
https://www.forbes.com/sites/aalsin/2017/02/28/shareholders-should-be-required-to-vote-on-stock-buybacks/#cd2eae16b1ef
and yet they still can't send me my finished license. fucker's