Standard Chartered Nears New Settlement Over Iran; Criminal Charges Unlikely in MF Global Probe: Roundup
Standard Chartered, the British bank that agreed to pay a New York State regulator $340 million to settle charges that it violated U.S. sanctions with Iran, is nearing a settlement with the U.S. Treasury and Manhattan district attorney, according to The New York Times. The anticipated deal will likely cost Standard Chartered less than its settlement with New York’s Department of Financial Services, because the federal and local authorities view the banks actions less severely than did the state regulator.
A Department of Justice probe into the collapse of MF Global is going nowhere fast, according to The Wall Street Journal, which reports that former CEO Jon Corzine met with federal investigators for the first time last week. Meanwhile, sources tell The Journal that it’s looking more unlikely criminal charges will be filed.
“Many people on Main Street distrust Wall Street right now, yet few can put their finger on why,” said Jamie Raab, publisher of Grand Central, according to The Times.Which is an overwrought explanation for giving former Goldman Sachs executive Greg Smith $1.5 million for his book, Why ILeft Goldman Sachs. A simpler reason: People want the dirt. Read More