Britain’s Prudential Regulation Authority has fined Standard Chartered £46.55million for failing to be open and cooperative with the regulator, and for failings in its controls.
The PRA said the fine related to reporting errors Standard Chartered made between March 2018 and May 2019 over its liquidity position when it was subject to an ‘additional liquidity expectation’ due to concerns about US dollar liquidity outflows.
Former Tesco CEO Dave Lewis has been appointed by GlaxoSmithKline as non-executive chair designate of the new consumer healthcare company, which will result from the proposed demerger from GSK in 2022.
GSK said Lewis’ appointment will take effect from 1 January 2022.
The scale of pandemic plundering by private equity giants is laid bare by figures showing a record £289billion worth of UK company takeovers this year.
That is almost double last year’s £146billion, with the number of deals up 45 per cent to 1,911.
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‘SCB made five errors reporting the liquidity metric which meant the PRA did not have a reliable overview of its USD liquidity position.’
