August 7, Standard Chartered Group issued a statement strongly denied the allegations of the U.S. regulatory bodies for the Standard Chartered Bank, money laundering, said Standard Chartered Bank is involved in Iran's trading compliance far above this 99.9%, and was five years ago to stopall new Iranian customers' business. At the close, however, the Standard Chartered Group shares fell 14.89%.
 
Previously, the Financial Services Authority in the State of New York issued a statement, accused the Standard Chartered Bank Standard Chartered Group's wholly-owned, worked for nearly 10 years, more than 250 billion U.S. dollars (HK $ 1.95 trillion) in transactions with Iranian institutions, sued the bank in violation of U.S. anti-money laundering legislation. If convicted, Standard Chartered is likely to lose in the New York State business license.
 
Rather strongly worded statement released yesterday by the Standard Chartered Group, said the New York State Financial Services Authority to pay the regulations explain the existence of the U-turn (U-turn transactions) an error of law, adding that the Group is involved in Iran trading in line with the proportion of U-turn far greater than the 99.9% do not meet the U-turn to the provisions of the trading volume of less than $ 14 million. Standard Chartered stressed that the pay review process on Iran did not find any terrorist organization or institution recognized by a U.S. government payment transactions. The Group will also continue to work with the relevant U.S. authorities continued to discuss.
 
However, the Standard Chartered Group's statement could not stop the shares fell yesterday's share price has dropped nearly 20 percent, hitting HK $ 149 late rebounded, closing at HK $ 160.10, down 14.89%.
Standard Chartered shares fell the AMTD securities and wealth management business, general manager Kenny Tang analysts said Standard Chartered business growth and profitability is concentrated in the emerging market segment, able to support the company's business performance, so the stock could eventually rebound.
 
The number of agencies of the Standard Chartered Group's rating to be lowered. Nomura Securities serious Standard Chartered involved in money laundering allegations, despite sound fundamentals, but will continue to face substantial earnings risk, its rating to "neutral" from "buy". While Bank of America Merrill Lynch, Standard Chartered Group's rating from "buy" from "underperform the market.



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