Standard Chartered

HSBC is in talks to settle with US regulators over a money laundering investigation, but increased regulatory scrutiny has led to S&P cutting the bank's credit rating.

Francis Brooke, manager of the Troy Income & Growth trust and £780m Troy Trojan Income fund, said his trust is positioning for further mergers following its takeover of two rivals.

Standard Chartered has agreed to pay a $340m (£217m) fine to US regulators after it was accused of trying to hide up to $250bn of transactions with Iran.

REGULATION

Standard Chartered's reputation and shares were dealt a hammer blow last week as the New York state regulator claimed the British bank had hidden $250bn of trades with Iran, putting its US banking licence at risk.

It has been a bad week for Standard Chartered, and the explosive charges the bank faces dominated the headlines this week.

Schroders' head of UK equities Richard Buxton has been buying Standard Chartered on its dramatic share price falls this week, ignoring the market's "frenzy of panic" over the stock.

Standard Chartered chief executive Peter Sands last night strongly rejected claims from US regulators the UK bank helped Iran launder as much as $250bn (£161bn).

Standard Chartered could face up to $700m in fines if found guilty of allegations it helped Iranian clients conduct money laundering.

Equity fund managers across the board have been dealt a blow as popular holding Standard Chartered saw its shares fall almost 25% today as its US banking licence came under threat.