New Liverpool sponsor - 20M a year Standard Chartered deal (2009)

So, let's say Standard Chartered are actually found out and are doing something completley wrong and unethical, what impact may that have on our club? Yes, it may mean we would have to look for a new sponsor. However, could it lead to sanctions to the club? This kind of stuff, I.e. business law, is all new to me do I haven't a clue and I apologise for my stupidity.

Think it would be more an image problem if there was any problem at all.

Truth be told this will probably be settled out of court with SC paying a hefty fine without admitting any guild after which it will just fade away as the next scandel unfolds at another bank.

Remember when Standard Chartered interfered in the Suarez case and made the club apologise to United as we were damaging their reputation? I think we should be giving them a call some time soon along the same lines.

Remember when Standard Chartered interfered in the Suarez case and made the club apologise to United as we were damaging their reputation? I think we should be giving them a call some time soon along the same lines.

Karma.

I'm not one to defend banks but if dealing with Iran is a crime because New York Financial Services said so then New York Finanicial Services can f**k off. They should have a look at what their own country is doing before condemning others.

I guess the event of 9/11 doesn't count.  Also, how many of those USA attacks were in the name of the United Nations (meaning the US step up to protect/support another member of the UN)?
 

I guess the event of 9/11 doesn't count.  Also, how many of those USA attacks were in the name of the United Nations (meaning the US step up to protect/support another member of the UN)?

Iran did 9/11?
If you want to believe the US goes around the world protecting the little countries that's up to you. There are many countries that are omitted from such protection; normally such countries have little resources for US corporations to exploit.

Looks like that the US bank regulators comments have gone down like a lead balloon with other financial institutions in the US and there is a backlash over the hysterical comments about rogue institutions and exposing america to terrorism.

Iran did 9/11?
If you want to believe the US goes around the world protecting the little countries that's up to you. There are many countries that are omitted from such protection; normally such countries have little resources for US corporations to exploit.

You're right.  Iran per se did not conduct the attacks of 9/11.  Just terrorist groups from that country and its neighbor.  You know, the same terrorist group that controlled those two countries at the time.   While you are also correct in that there are several nations omitted from US protection, there are plenty who are protected by the UN.  You know, the nations that do have resources for US corporations to exploit.

The majority of those countries are on that list are now members of the United Nations.  Why would that be?

Edit: Hell, Iran and Iraq are actually members of the UN.

Can we not get into a political debate here?

It's ok everyone, nothing to see here.

Money laundering is OK since the United States does bad things too.

You're right.  Iran per se did not conduct the attacks of 9/11.  Just terrorist groups from that country and its neighbor.  You know, the same terrorist group that controlled those two countries at the time.

I agree that we perhaps don't want to go too off topic here but there is a thread here that discusses Iran.

http://www.lfcreds.com/reds/index.php/topic,41360.330.html

In that thread perhaps you will take the opportunity to provide evidence that groups from Iran did 9/11. Which neighbour are you referring to also out of interest?

It's ok everyone, nothing to see here.

Money laundering is OK since the United States does bad things too.

I am glad that you at least acknowledge some hypocrisy at play.

I am glad that you at least acknowledge some hypocrisy at play.

Of course I acknowledge it. Every government in the world is guilty of it. But the "But hey, he's doing it too" defense rarely works. Personally, if the allegations are true, I don't want my football club doing business with an organization that launders money in spite of sanctions, that not just the US support, against a country that while they may not have performed wide scale attacks themselves, have certainly supported monetarily and in other ways, organized terrorism.

There's an awful lot of propaganda about Iran flying around at the moment. I don't buy most of it but I'm no fan of the regime. When we made the deal with a bank perhaps we were asking for trouble; as we are finding out some of the practices of bankers globally have been completely immoral.

I don't think New York Financial Services should have gone public with this until the investigation was complete. Standard Chartered may well be innocent.

There's an awful lot of propaganda about Iran flying around at the moment. I don't buy most of it but I'm no fan of the regime. When we made the deal with a bank perhaps we were asking for trouble; as we are finding out some of the practices of bankers globally have been completely immoral.

I don't think New York Financial Services should have gone public with this until the investigation was complete. Standard Chartered may well be innocent.

Well you have to consider the ULTRA reactive nature that US Financial institutions/regulators have to doing business with "perceived" terrorists. Many times they may be too quick to jump but it's because of the political nature of everything our country does especially involving countries that most people consider "bad".

It may be that SC is innocent although it didn't seem like they had a very good response to the charges and it almost sounded like an "Oh crap" as opposed to a "we're innocent"?

Think it would be more an image problem if there was any problem at all.

Truth be told this will probably be settled out of court with SC paying a hefty fine without admitting any guild after which it will just fade away as the next scandel unfolds at another bank.

It's all politics (regulators wanting to make a name for themselves) and of course money.

Standard Chartered, NY Regulator Reach $340 million Settlement

NEW YORK (Reuters) - Standard Chartered Plc(LSE:STAN.L - News) has agreed to pay $340 million to settle allegations that it hid transactions with Iran from regulators, the New York Department of Financial Services said on Tuesday.

In addition to the civil penalty, the bank agreed to install a monitor for at least two years to evaluate the bank's money-laundering risk controls in its New York branch, the department said in a statement.

The department also said it had adjourned a hearing set for Wednesday at which it had called on Standard Chartered to demonstrate why its New York state banking license should not be revoked.

"The parties have agreed that the conduct at issue involved transactions of at least $250 billion," the department said in a statement.

The bank did not immediately return a call seeking comment on the settlement.

New York Financial Services Superintendent Benjamin Lawsky made the allegations against Standard Chartered on August 6, saying it was a "rogue institution" for breaking U.S. sanctions.

The announcement came after Standard Chartered's Chief Executive Peter Sands, who strongly denied the allegations last week, flew to New York to take personal control of the bank's attempts to reach a settlement.


http://finance.yahoo.com/news/standard-chartered-york-regulator-reach-180303629.html

What will regulators do with $340 million?
This has certainly been a nice little earner for them and it concerns me greatly that New York Financial Services can have such a hold over British companies who may or may not agree with their views on another nation.
But there are much greater injustices in the world than a bank losing money!

What will regulators do with $340 million?
This has certainly been a nice little earner for them and it concerns me greatly that New York Financial Services can have such a hold over British companies who may or may not agree with their views on another nation.
But there are much greater injustices in the world than a bank losing money!

They have a hold on the British company because the British company wanted to do business within the New York Financial Services world. If they had chosen not to come here at all then there was really nothing a regulator in NYC could do huh?

340m is a drop in the bucket for a company that produced 16.8 billion in revenue last year.

New York is a critical financial hub in the world so the influence of their financial services is important I'd say. It is important that this critical position is not mis-used for agendas that not everyone globally might agree with.

I'm sure SC can afford the fine but it has been easy money (and lots of it) for New York Financial Services.

Standard Chartered may survive the financial crisis and they may not. As long as they fulfil the £30 million payments to Liverpool that the contract stipulates we'll be alright. If not... well Warrior pay us £20 million just to make our kits, surely FSG could find someone to pay at least 15 mil each season for the shirt sponsorship? Might Carlsberg find the elusive exposure costly so they'd raise their stakes again?

It's not like it's Liverpool under attack IMO.

LFC secure two new partnership deals

Liverpool FC today announced that it is entering into two new betting partnership deals with Paddy Power and 188BET.

Paddy Power will become the club's official betting partner for the UK, Ireland and Italy, with 188BET becoming the club's official international betting partner.

Both parties have signed two-year agreements, which take them through until the end of the 2013-14 Premier League season. They will both enjoy an extensive, but distinguished, suite of rights. The structure of the deals reflect the evolution in Liverpool's ability to offer fans a geo-targeted betting experience, and the club is proud to announce these two deals simultaneously.

These deals follow two other recent partnership agreements for Liverpool with Chevrolet, the club's official automotive partner, and Garuda Indonesia, the official global airline. The club has enjoyed a partnership with Paddy Power previously, whilst 188BET is the club's incumbent, exclusive global betting partner.

Ian Ayre, Liverpool Football Club's managing director, said: "We're delighted to welcome Paddy Power back to the LFC family and continue our successful relationship with 188BET.

"The betting category has always been an area where the club has enjoyed great success, particularly in the digital space. We took the decision to invest heavily in our website in order to accommodate multiple betting partners, and that decision is vindicated in the uplift in fees that we have seen.

"Liverpool FC has a huge international following so we are glad to be able to help fans enjoy their betting experience wherever they are around the world. We look forward to working with both parties to support our mutual goals."

Paddy Power, spokesperson for Paddy Power, said: "We've built our name on our commitment to offering unbeatable value and entertainment, not least through our money-back specials and justice pay-outs, which have seen us give millions back to punters over the years.

"Liverpool FC share this history and passion for delighting fans above all else and therefore we're extremely excited to partner with them."         

Nigel Singer, 188BET's managing director, said: "We are delighted to extend the partnership and excellent working relationship with Liverpool FC. The club has been a key driver for us to engage football fans, both in the UK and globally, over the past three seasons.

"Liverpool FC is an iconic global sports brand and this extension of our partnership represents a perfect fit for the 188BET international brand strategy. Our continuing status as the international betting partner ensures that 188BET customers and Liverpool FC's fans, globally, will benefit from exclusive promotions, exciting content and great gaming prices on every Liverpool FC game.

"We are looking forward to working closely with the club to ensure this partnership brings continued success for both parties."



http://www.liverpoolfc.com/news/latest-news/lfc-secure-two-new-partnership-deals

What will regulators do with $340 million?

Could have bought us a F***ing stadium instead of F***ing around like this!

I was driving my kids home this evening and saw a van by the side of the road for this company, Stockport Computers:

http://www.stockportcomputers.co.uk/?version=web

Why am I posting in this thread? They've stolen the Standard Chartered logo, same colours and everything!!

If you look at their homepage, you can just about see it in the top right and at the beginning of the video, you get a glimpse of it on their van.
Cheeky bas**rds!

Now I'm not suggesting we grass them up but let's all hit them with emails telling them what cheeky bas**rds they are 

I was driving my kids home this evening and saw a van by the side of the road for this company, Stockport Computers:

http://www.stockportcomputers.co.uk/?version=web

Why am I posting in this thread? They've stolen the Standard Chartered logo, same colours and everything!!

If you look at their homepage, you can just about see it in the top right and at the beginning of the video, you get a glimpse of it on their van.
Cheeky bas**rds!

Now I'm not suggesting we grass them up but let's all hit them with emails telling them what cheeky bas**rds they are 

Ha ha I like that! Ingenius.

Sorry for the bump.

When does the deal expire?.

Have we earned the Maximum from it? (Performance related).

Will they renew?.

Any ideas.