SWC MediaConference

The Straits Wine Company
Press Conference 23, 2015
UE Square, Singapore

Intro Speech by:
Ms. Kathy Lim-Sheehy
Group CEO
The StraitsWine Company


Standard Chartered Bank
Standard Chartered in Singapore is part of an international banking group with an extensive network of over 1,200 branches and outlets in more than 70 countries in some of the world’s most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East.
We have a history of 156 years in Singapore, opening our first branch here in 1859 and in 1999 was among the first international banks to receive a Qualifying Full Bank (QFB) license, an endorsement of the Bank’s long-standing commitment to Singapore. In 2013, we also locally incorporated our Retail and SME business in Singapore.
We serve both retail and corporate clients, and provide banking services ranging from credit cards, personal loans, auto loans, mortgages, deposit taking and wealth management services to trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.
In Singapore, we employ around 7,000 people and have a network of 18 branches, 7 Priority Banking centres and 31 ATMs.

The Fullerton Heritage
Located where the dynamic developments of Marina Bay intersect with the famous Singapore skyline, The Fullerton Heritage precinct is a world class destination offering luxury hotel accommodations, multiple waterfront dining choices and elegant lifestyle entertainment right in the heart of the central business district.
The development is an exquisite dining and hospitality complex that combines historical and contemporary architecture. It comprises The Fullerton Hotel Singapore, The Fullerton Bay Hotel Singapore, The Fullerton Pavilion, The Fullerton Waterboat House, Clifford Pier, Customs House, One Fullerton and the iconic Merlion Park. At 1.4 million square feet, the precinct stretches along Singapore’s signature waterfront with stunning views of the bay.

Getai Group
Getai Group (GG) is a creative arts curator and platform that consults, creates, collaborates and successfully implements events to bring different communities together. The group has organized and curated a series of alternative events at different locations such as People’s Park Complex over the past year. GG has been known for the local original content that has been showcased at all our Getai events; Getai Electronica, Getai Ethnica, Getai Holidays, Getai Mash+Ups and many others. With our curation, communications & marketing strategy and events, we have successfully attracted more than 10,000 people to our events within a month. The group works together closely with public and private sectors such as the launch of a series of short documentary films called Singapore Stories by Discovery Channel, injecting local arts content to Urbanscape, the largest roof top yoga session in Singapore and partnering with private corporations such as Mercedes Benz to launch the CLA Shooting Brake over the last year, amongst others. Getai Group is co-founded by Timothy De Cotta, Lionel Ang and Carmen Low in 2015 with the sole vision of pushing the local arts scene in Singapore to greater heights.

The leading all-natural, anti-hangover drink from Korea has reached Singapore at last! Distributed by Gain Brands in Singapore, HxO – which has been available in Korea as Morning Power since 2008 – is the first drink of its kind to be available in the country after making its debut on 21 August 2015 in true high-flying style at the highest rooftop bar in the world, 1-Altitude. The availability of HxO in Singapore spells good news for those who regularly wine and dine their clients or catch up over after-work drinks and still have to perform at their best the next day at work. HxO’s unique formula centres on Globefish extract (rich in sulfur amino acid, methionine and taurine), which is medically proven to reduce the concentration of and dissolving alcohol in the blood. This ultimately enhances liver function and aids in the recovery of the after-effects of alcohol consumption, making the next day that much easier to face. HxO’s pleasant, fruity flavour makes it a versatile drink that can easily be complemented with other beverages, including spirits. For the best effect, it is recommended that HxO is taken at least 30 minutes before consuming any alcoholic beverage – for example, before a dinner party, night-out on the town or a bar-hop with colleagues and friends – and at the end of the night.

Music Copyright by Audio Jungle | Party Time
Video by Migz & Matt Studios
Photography by Allan Lizardo | Allan Lizardo Photography and LifeStyle

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Standard Chartered to pay $947m in US and £102m in the UK to resolve legacy control and conduct issues

Sourced from: https://financefeeds.com/standard-chartered-to-pay-947m-in-us-and-102m-in-the-uk-to-resolve-legacy-control-and-conduct-issues/

The Group claims that it increased headcount that is related six-fold and has made substantial investments. It adds that it has made modifications and created a Board Financial Crime Risk Committee, whose members consist of outside advisers and independent directors with backgrounds in law enforcement and domestic security.

Standard Chartered PLC (LON:STAN) has previously today declared It Will pay a total of $947 million in monetary penalties to a number of U.S. Agencies and #102 million into the UK Financial Conduct Authority in order to solve the previously revealed investigations by the U.S. Department of Justice (DOJ), the Office of the District Attorney for New York County (DANY), the New York State Department of Financial Services (DFS), the Board of Governors of the Federal Reserve System and the U.S. Treasury’s Office of Foreign Assets Control and the FCA in its historical sanctions compliance and fiscal crime controls.

The article Standard Chartered to cover $947m in US and 102m from the UK to solve legacy control and conduct problems appeared first on FinanceFeeds.

The resolutions include no compliance monitorships and the monitorships previously imposed from the DFS and the DOJ were terminated on March 31, 2019 and December 31, 2018 , respectively.

Its sanctions compliance groups have also significantly expanded and introduced due diligence requirements for new and existing customers. Other improvements to the Group’s financial offense compliance include: mandatory annual training for all staff on sanctions, anti-money laundering and anti-corruption; new technologies including artificial intelligence and machine learning to encourage its screening and investigations procedures; along with the constitution of a dedicated cyber financial crime intelligence unit in the U.S.

FinanceFeeds –
Standard Chartered stresses it has cooperated totally and proactively with the investigations. The Group discussed the results with the authorities and also has conducted its own thorough accountability review.

Standard Chartered boosts open banking capabilities

Sourced from: https://financefeeds.com/standard-chartered-boosts-open-banking-capabilities/

Standard Chartered has earlier announced that it is bolstering its open banking capacities , having a focus on driving innovation and technology culture through partnerships and openness with developers, corporations and fintechs to co-create better customer products and services throughout the sharing and application of Application Programming Interface (APIs).
The bank has introduced several new initiatives.

The very first of these is the platform, whose goal is to provide developers open access to the bank’s available source code to get banking products and its own APIs, software, and libraries. It serves as an adaptive layer in its engineering architecture to drive more partnerships and connectivity between corporations developers and fintechs, therefore solutions could be co-created.

Another of those initiatives would be aXess Labs, that will be a Bengaluru-based evaluation laboratory, where the Bank’s in-house developers will experiment with cutting edge technologies, accelerate ideation to service delivery, empower new business units, and also share open banking best practices, capabilities, and tools across the Bank.
Standard Chartered was trying to drive innovation. It has been co-creating solutions to increase client experience and continues to be forging partnerships and alternatives to change it approaches and believes about accounting. The bank declared the establishment of a joint venture with HKT PCCW and Ctrip Finance to provide a new standalone electronic banking in Hong Kong.

FinanceFeeds –

Standard Chartered has also recently declared the SC Ventures Fintech Bridge, an online platform, by which the bank expects partnerships with all fintechs to solve business challenges that meet present and future client needs.
The post Standard Chartered promotes open banking capabilities appeared initially on FinanceFeeds.

Dr Sebastian Wedeniwski, the Bank’s Chief Technology Strategist stated:”The future of banking is changing fast with massive technology-led innovations. Our aXess attempts to boost our open banking capacities aims to enhance the developer experience and upskill the technology experience of the Bank, even while guiding developers on our journey build for openness and integration.”
In the end, the aXess Academy intends to boost the skills of the programmers of this Bank, providing them with the technical know-how required for receptive banking via technology leadership roundtables, hackathons, and training programs. It is a forum for media with tech networks in different industries.

SFC slaps more fines over sponsor failures – Standard Chartered, Morgan Stanley, Merrill Lynch targeted too

Sourced from: https://financefeeds.com/sfc-slaps-fines-sponsor-failures-standard-chartered-morgan-stanley-merrill-lynch-targeted/

The article SFC calms more fines on sponsor failures – Standard Chartered, Morgan Stanley, Merrill Lynch targeted overly appeared first on FinanceFeeds.

Merrill Lynch Far East Limited has been proven to have failed to discharge its responsibilities as among the joint sponsors in relation to the listing program of Tianhe Chemicals Group Limited in 2014.
In determining the punishment for Merrill Lynch, the SFC took into consideration that Merrill Lynch enabled Tianhe to restrain both the due diligence process and failed to take appropriate measures to cover the red flags raised in and after the client interviews. However, Merrill Lynch cooperated with the SFC in accepting the disciplinary action and the SFC’s findings and regulatory concerns. The company has also agreed to employ an independent reviewer to assess its own policies, practices and procedures in relation to the conduct of its host enterprise.

The SFC’s investigations concluded that Standard Chartered Securities had neglected to make reasonable due diligence enquiries in relation to a number of core elements of China Forestry’s company.
Shortly after declaring the disciplinary action against UBS today, the Securities and Futures Commission (SFC) has unveiled the imposition of fairly hefty penalties against many other banks over sponsor failures.
The SFC’s investigations showed that Merrill Lynch had neglected to follow the specific recommendations due diligence interviews under paragraph 17.6 of this Code of Conduct.
Morgan Stanley Asia Limited is fined for failing to discharge its responsibilities as among the joint patrons in regard to the list application of Tianhe Chemicals Group Limited at 2014. The SFC’s investigations decided that Morgan Stanley had failed to follow the specific instructions on due diligence interviews under paragraph 17.6 of this Code of Conduct.
FinanceFeeds –

In choosing the sanctions, the SFC took into account, inter alia, for example a sponsor, Morgan Stanley has a clean disciplinary record and the company participates with the SFC to solve the SFC’s regulatory worries.

In deciding on the sanctions, the SFC took into consideration that the deficiencies at the due diligence conducted by Standard Chartered Securities are significant, i.e. it’s failed to properly analyze and verify crucial aspects of China Forestry’s company such as its forestry assets, logging activities, insurance policy and clients. But, Standard Chartered Securities cooperated with the SFC in accepting that the disciplinary actions and the SFC’s findings and regulatory concerns.
The listings in the Heart of the regulatory matters issue China Forestry Holdings Company Limited and also Tianhe Chemicals Group Limited. Standard Chartered Securities has a fine of HK$59.7 million, Merrill Lynch Far East Limited will need to pay a penalty of HK$128 million, whereas Morgan Stanley Asia Limited got slapped with a fine of HK$224 million.