Is this true?7 Aug 2012 15:07
Hello all, My first post on this board. Can anyone shed light on the following, is it true? If so, these are massively underrated at the moment.
Following that enquiry, Standard Chartered said it "does not believe the order issued by the DFS presents a full and accurate picture of the facts. The analysis, that the group shared with all the US agencies, demonstrates that throughout the period the group acted to comply, and overwhelmingly did comply, with US sanctions and the regulations relating to U-turn payments. As we have disclosed to the authorities, well over 99.9% of the transactions relating to Iran complied with the U-turn regulations. The total value of transactions which did not follow the U-turn was under $14m."