Standard Chartered pleads guilty in New York to manipulating rand

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The Competition Commission has said that Standard Chartered Bank has pleaded guilty to currency manipulation, including of the South African rand, citing a consent agreement between Standard Chartered Bank and the New York State Department of Financial Services.

 

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This happens when persons of questionable intergrity lead organisations. They will be cowboys who give the bottom line prime importance/consideration at all other costs. We saw that at Barclays with Diamond leadership.

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