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: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter