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StanChart’s private client asset transfers likely done to “defer” CRS obligations

Transfers of Standard Chartered client assets from Guernsey to Singapore in 2015 were likely a “deadline arbitrage” move ahead of the implementation of the Common Reporting Standard (CRS) regime in Guernsey, according to compliance solutions provider Accuity. Bharath Vellore, product innovation manager at Accuity, tells Asian Private Banker that the transfers – worth a combined US$1.4 billion – were probably…

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