Less than a month after issuing proposals to attract biotech listings to Hong Kong, the stock exchange made a plea last week to potential candidates to not get fixated on the small print.
Standard Chartered chief executive Bill Winters said last week the bank was now growing across all divisions and regions as he sought to put behind him the difficulties of the last several years, particularly for the investment bank.
Singapore’s central bank imposed penalties of S$5.2m (US$3.95m) on Standard Chartered Bank and S$1.2m on Standard Chartered Trust (Singapore) for breaching money-laundering rules and terrorism-financing safeguards.
A lack of concern for moral hazard in some corners of China’s debt markets has undoubtedly kept the printing press running over recent years. In fact, the ability of companies and local governments to avoid default and repeatedly raise funds has led many commentators to liken the onshore financial system to a gigantic ponzi scheme.