BNP Paribas lowers forecast after weak Q4
France’s largest listed bank BNP Paribas cut its profit and revenue growth targets for 2020 on Wednesday, after weak financial markets hit revenues in the last quarter of 2018. The […]
BNP Paribas
Brexit: France’s Top Banks prepare to move from UK
As Brexit looms, France’s top three banks are now pressing ahead with plans to cut their staffing in the UK. BNP Paribas SA, Credit Agricole SA and Societe Generale SA […]
FED fined BNP Paribas $246 mln over forex trades
The Federal Reserve on Monday slapped BNP Paribas S.A. and some of its U.S. subsidiaries with a $246 million fine for what it said were the firm’s unsafe and unsound practices in foreign exchange markets.
The Board levied the fine after finding deficiencies in BNP Paribas’s oversight of, and internal controls over, FX traders who buy and sell U.S. dollars and foreign currencies for the firm’s own accounts and for customers.
BNP Paribas fined by French watchdog for inadequate anti-money laundering
French bank watchdog ACPR said it had fined BNP Paribas €10 million for inadequate anti-money laundering controls.
Reuters reports that the penalty followed a 2015 inspection of the bank which revealed a number of shortcomings in its provisions for preventing money laundering and financing of terrorism, ACPR said in a statement. And it found that the bank dragged its feet in implementing an overhaul of its operations that it had officially decided to implement in 2013.