PRESS DIGEST - British business - Sept 17
September 16, 2010 at 22:54 PM EDT
London-listed Standard Chartered is readying contingency plans to relocate overseas, in the event that increasing tax and regulatory burdens become too onerous. The bank's board has tasked a team with exploring the feasibility of a move to the Far East or elsewhere and a move may spark an exodus by other banks. Although it is listed on the FTSE and regulated by the Financial Services Authority, Standard Chartered carries out the majority of its activities in emerging markets.