Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. 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
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter