Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

BNP could face $10bn fine from US authorities

1 Comment
BNP could face $10bn fine from US authorities

BNP Paribas could be hit with a fine of over $10 billion for breaking US sanctions on Iran, Sudan and Cuba, according to reports.

The WSJ said that the bank is locked in talks with the Justice Department regarding its activities between 2002 and 2009 and a final resolution will be settled in weeks.

The paper reports that BNP is looking to pay out less than £8 billion, which would in itself still dwarf the $1.9 billion HSBC was fined in 2012. It added that the US government could block the bank from transferring money into or out of the America.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter