#peter sands

[cryptocollectibles]

Lex Luthor Unauthorized Biography (July 1989) by DC Comics

Written by James Hudnall, drawn by Eduardo Barreto, coloring by Adam Kubert, cover by Eric Peterson.

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[bradfordzone]

Police release image of missing Peter Sands vehicle

Police release image of missing Peter Sands vehicle

Police investigating the disappearance of a Shipley man have issued an image of his vehicle.

Peter Sands’ blue Skoda Octavia was sighted in the Gretna area of Scotland, close to the M6 in the early afternoon of 21 June.

Peter, 45, of Claremont Road, was last seen on 20 June and is known to have links to Scotland and Cumbria.

He is described as white, 6’2” tall, of slim build and pale complexion.

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[newshourbd]

IAS welcomes Peter Sands as the Global Fund's new Executive Director

IAS welcomes Peter Sands as the Global Fund’s new Executive Director

The International AIDS Society (IAS) welcomes the appointment of Peter Sands as the new Executive Director of the Global Fund to Fight AIDS, Tuberculosis and Malaria.

Sands is the former Chief Executive Officer of Standard Chartered PLC, one of the world’s leading international banks operating across over 70 markets, primarily in emerging markets. After a distinguished career in banking, Sands…

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[newstfionline]

Why $100 bills and €500 notes may soon be killed off

Ethan Wolff-Mann, Money, Feb. 17, 2016

The $100 bill has always had a complicated relationship with the public. On the one hand, the $100 bill represents wealth and success, as a currency’s largest denomination well should.

But the $100 has always also been the black sheep of American currency. Most people feel compelled to apologize and ask for permission before they pay with a $100 bill at shops and restaurants, and some stores won’t even accept them. Even bank robbers eschew these bills (“give me non-sequential $20s, no $100s”).

Now, former Secretary of the Treasury Lawrence H. Summers has called for the $100 bill’s execution, just as the Financial Times reported that the European Central Bank is planning on killing another big bill overseas, the €500.

In an op-ed for the Washington Post, Summers cites a new study from Harvard’s Kennedy school by banker Peter Sands--he’s President Emeritus of Harvard--that made a strong case for the elimination of the £50, the €500, the Swiss CHF 1,000, as well as the $100 because large currency notes such as these are the “preferred payment mechanism of those pursuing illicit activities, given the anonymity and lack of transaction record they offer, and the relative ease with which they can be transported and moved.”

This is apparently an enormous problem. According to the study, only 1% of shady transactions are seized by authorities, and this has a massive effect on the world by way of tax evasion, corruption, terrorism, and garden-variety money laundering for criminal enterprise. The dubious use of high-denomination bills has actually even earned the €500 note a nickname: the “Bin Laden.”

In his op-ed, Summers remembers opposing the high-denomination €500 in the late ‘90s when the euro was being designed. Back then, Treasury Secretary Summers maintained that large denominations were “highly irresponsible and mostly would be a boon to corruption and crime.” He even proposed killing the U.S.’s $100 bill to walk his talk. Eventually, the €500 was approved--apparently without much of a fight because Germany really wanted it--and the $100 is obviously still around. But recent calls for eliminating the large euro bills have set the wheels in motion, despite the preference in German and Austrian to pay cash for many purchases.

A world without a $100 or €500 note would be an inconvenience for the relatively small group of people that actually likes making big-ticket purchases in cash. But removing large notes such as these would make life extremely difficult for criminals. A Zero Halliburton attaché case full of $100 bills in their mustard-colored straps can only hold about $1 million. For a money launderer, terrorist henchman, or blackmailed husband, resorting to $50 bills would require two briefcases. The same amount of cash in $20s would mean five bags, each weighing almost 60 pounds.

Similar math can be done no matter what the currency. “If a drugs gang collects up to £1m in twenties from its clients on street corners, those notes will weigh more than 50kg--about 50 bags of sugar,” the BBC reported five years ago. “The equivalent in 500 euro banknotes weighs just over 2kg.”

The point is that the sheer unwieldiness of using lower-denomination cash could be enough to disrupt criminal business models. Any organization dependent on large quantities of illicit cash would have to find another, more costly way of moving money, and it’s likely that whatever method they use would increase the likelihood of detection.

The elimination of high-denomination bills has precedent: In 2000, Canada got rid of its $1,000 bills and Singapore ditched its $10,000 bills. In the U.K., there are already calls to scrap the £50 note. Still, Switzerland, famous for its financial discretion, doesn’t appear to be rejecting its massive CHF 1,000 note--the most valuable in the G10.

While the case for abolishing high-denomination bills seems fairly clear-cut, not everyone is on board. As mentioned, in Germany and Austria especially, there’s a certain love for big bills. According to the Financial Times, a German newspaper has started a letter-writing campaign protesting the European Central Bank’s plans to scrap the €500. Austria is also standing its ground in regard to the big bill.

Cash also has the added benefit of providing emergency reserves for people “with unstable exchange rates, repressive governments, capital controls or a history of banking collapses,” as the Financial Times noted in a piece earlier this week, disagreeing with Sands’s idea that big bills are only a tool for criminality.

But not all protests stem from a love of the cash, or its common utility. Insider-finance blog ZeroHedge takes a more cynical view of the authorities distaste for the €500, claiming the real reason for killing the note is to remove a significant amount of cash from the economy. Around one-third of all euro cash in circulation is currently held in €500 notes. Removing that much cash from the economic system would direct more money to banks, which would give the central bank more control, preventing a bank run of massive withdrawals. This could be especially important considering the ECB’s negative interest rates that could end up charging people for keeping money in the bank cost something, rather than paying interest. But in the case of the US, hoarding cash is not of major concern.

Then again, removing the high-denomination bills may not be motivated by monetary policy at all. According to the Financial Times, ECB governor Mario Draghi has said that killing the €500 has nothing to do with reducing cash, and everything to do with fighting criminal activity. High-denomination bills can be replaced by lower denomination ones to keep circulation constant. Though the government’s seigniorage income--the profit difference between the cost of minting a bill and its value--would be reduced, Sands’s study says that the effect against tax evasion would more than make up for the added costs.

[partitionhousehuntingw]

Peter Sands In point of Original Chartered Goes Heist To Wall Roadbed

One of the core curriculum banking mystery of the country, Standard Chartered has seen a vanishing off an in its value relating to an batch upon almost 6 billion pounds after the claims of the United States of America in connection with 'secret' horse trading as for dollar for the clients of the woods Iran. Now the chief executive in re the bank is battling to clear the stain on the name of the feather. An email from the side of a journalist might look like an odd way for a bank about a market as respects the capitalization of almost an amount of 40 billion pounds entree glossology to note out that my humble self is being a little much accused in regard to handling at least an amount of 250 billon dollars that sums up on 160 a thousand pounds of the in this way called secret payments of the Iran by the regulators referring to the United States of Eastern hemisphere. Yet later in the afternoon relative to the last to last Monday afternoon, one in connection with the cohort members as to the media relations of the bank Standard Chartered had got a message from a reporter of individual of the snipe rag of the country where they had been asked versus give a comment on the pith that the superintendent pertaining to the financial services for the elucidate about Once more York, Benjamin Lawsky was pulsating universe instilled to order an incendiary list of the charges against the bank. Unstained abject time later the office referring to Lawsky, the Department on Financial Services that is DFS had issued a document which was having and holding 27 page where they had accursed this bank which is London-based of willful and egregious violations of the laws forasmuch as well as of hiding generally speaking 60000 clandestine dealings, linking at less $250 billion having planned with the Iran metropolis. Get quick fiscal aids via 1 calendar year loan and bump utterly your cash problems. As per say that Peter Sands the vice-chancellor in chief of the Standard Chartered, who had learnt about the weekly from a text message from the take sides of the one of colleague while he was on holiday with his family regard the country of Canada, and apart from it the rest of his senior implementation team were acutely much staring by the allegations of Lawsky is departure till prove be an misteaching. A unpredicted renitency was not at integral enough in order to stop certain than an body as to 8 billion pounds being wiped away from the value pertaining to the market of the bank in keeping with its capitalization during last into last Monday as well as Tuesday.<\p>

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New Post has been published on The Rakyat Post

New Post has been published on http://www.therakyatpost.com/business/2015/02/26/standard-chartered-chief-to-step-down/

Standard Chartered chief to step down

LONDON, Feb 26, 2015: 

The chief executive of Asia-focused bank Standard Chartered will step down in June, the company said today, following poor results, job cuts and fines for failing to detect possible money-laundering.

“Peter Sands will stand down from the board and as group chief executive in June 2015,” the British bank said in a statement, adding that he would be replaced by former JP Morgan co-ceo Bill Winters.

The bank’s chairman John Peace praised Sands, who became the group’s chief executive in 2006, saying that he had presided “over a period of huge change and challenge for the entire industry”.

The bank, which focuses on emerging markets, was under pressure from shareholders and the move was welcomed on the London stock exchange where its shares jumped 1.36% to 938.90 pence at 0900 GMT.

Standard Chartered last month said it would close a swathe of its global equities business and axe 2,000 jobs around the world this year as it tries to make savings of US$400 million (RM1.4 billion) as part of a structural overhaul.

Standard Chartered, which makes 90% of its profits in Asia, the Middle East and Africa, saw its net earnings fall 16% for 2013 as it faced increased competition in Asia and troubles turning around its South Korean unit.

In August, US regulators hit it with a US$300 million fine and restrictions on its dollar-clearing business for failing to detect possible money-laundering.

[gershonposts]

Prime News: Standard Chartered picks ex-JPMorgan executive Winters as CEO to replace Sands

Prime News: Standard Chartered picks ex-JPMorgan executive Winters as CEO to replace Sands

Standard Chartered said former JPMorgan investment bank boss Bill Winters will be its chief executive in June, replacing embattled boss Peter Sands.

The company said on Thursday Chairman John Peace will also leave next year, and named other changes to its board in a massive overhaul in management following a run of problems for the UK bank prompted top shareholders to call for change.

Winters is…

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