AP News/Bloomberg Business Week
By Robert Barr on August 14, 2012
LONDON (AP) — The chief executive of Standard Chartered bank is in New York ahead of a hearing with the regulator who has branded the British bank a rogue operator that has hid transactions involving oil money for Iran.
The bank said that CEO Peter Sands is ready to meet with the regulator to discuss the charges, which could result in the bank having its license to operate in New York revoked. However, it is not clear that the bank will be invited or allowed to participate in Wednesday's hearing called by the New York State Department of Financial Services.
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