Topics in International Financial Regulation and Policy FALL 2016
OCTOBER 6, 4:00-5:30 pm
Belfer 503 (M-RCBG Conference Room)
Making it Harder for the Bad Guys: Squeezing Financial Crime through the Elimination of High Denomination Notes
Last year M-RCBG senior fellow Peter Sands worked with a group of HKS students to make the case for the elimination of high denomination notes as a bold step in the fight against financial crime. This resulted in the ECB’s decision in May 2016 to phase out the €500 note. In this session Peter will discuss priorities in the wake of this decision, including the acceleration of the €500 withdrawal, the elimination of CHF1000 note and institutionalization of measures against high denomination notes more generally through FATF, Europol, etc.
Peter Sands was Group Chief Executive of Standard Chartered Bank from November 2006 to June 2015. He joined the Board of Standard Chartered PLC as Group Finance Director in May 2002, responsible for Finance, Strategy, Risk and Technology and Operations. Prior to this, Sands was Director and Senior Partner at worldwide consultants McKinsey & Co. Before joining McKinsey, he worked for the United Kingdom’s Foreign and Commonwealth Office. Sands is the lead non-executive board member of the Department of Health in the United Kingdom and the co-chair of the India UK CEO Forum. He holds a number of board memberships including the World Economic Forum and Lingnan University and is Governor of the National Institute of Economic and Social Research. He graduated from Oxford University and holds and MPA from HKS (1988), where he was a Harkness Fellow. As a senior fellow, Sands’ research will explore a variety of topics related to banks and financial markets. His faculty sponsor is Richard Zeckhauser, Frank Plumpton Ramsey Professor of Political Economy. Email:firstname.lastname@example.org
M-RCBG Senior Fellow Peter Sands.