Europe stocks wobble; Standard Chartered sinks
Earlier gains evaporate for European stocks Tuesday, with support by oil stocks being overshadowed by losses for banks such as Standard Chartered, off 20% on allegations of hiding transactions with Iran.
Investigation: HSBC Laundered Drug Money
Europe's largest bank allowed drug cartels to launder billions of dollars through its U.S. operations, and skirted bans against transactions with Iran. Those are among the findings of a Senate investigation of London-based HSBC. Executives from the bank are in Washington for a hearing on the probe.
Found more than 1 month ago on channel NPR
Lew says U.S. still opposed to financial transaction tax
WASHINGTON - Treasury Secretary Jack Lew reiterated the government's opposition to a tax on financial transactions, which would make banks pay for help in the financial crisis and is gaining steam in Europe.
Found 1 month ago on channel Reuters
Cyprus Banks Re-Open; Limits on Transactions
(NICOSIA, Cyprus) — Banks in Cyprus have reopened to customers for the first time in nearly two weeks, with customers now able to access their accounts, albeit with strict restrictions on transactions. Large lines had formed outside some bank branches, particularly those of Laiki, which is to be restructured, before they opened at noon (1000 GMT) Thursday. Some Laiki branches in central Nicosia had not opened exactly on time, with customers waiting patiently outside. Banks have been shut since March 16 while politicians wrangled over how to come up with enough funds to qualify for an international bailout. That agreement was finally reached in Brussels early Monday. Cypriots get their first chance to access their savings in almost two weeks when the country’s banks reopen Thursday — albeit with strict restrictions on transactions — after being closed due to the country’s acute financial crisis. Queues were starting to form outside banks Thursday morning ahead of the official opening ...
United States: Public Companies Must Begin Reporting Transactions with Iran - Loeb & Loeb LLP
Beginning February 6, 2013, public companies must disclose in annual or quarterly reports to the Securities and Exchange Commission whether the companies or any of their affiliates engaged in proscribed transactions with Iran.
Found more than 1 month ago on channel Mondaq