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Stock Market & Financial Investment News

News Breaks
May 29, 2014
14:22 EDTBNPQYDOJ seeks to fine BNP Paribas over $10B for sanctions violations, WSJ says
The Justice Department is urging BNP Paribas to accept a settlement over charges it evaded U.S. sanctions against Iran that would see the bank pay more than $10B in penalties, according to The Wall Street Journal, citing people familiar with the talks. The report noted that a final resolution of the probe is likely "weeks away" and the settlement amount could total far less than $10B, which is above what the bank was targeting. Reference Link
News For BNPQY From The Last 14 Days
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July 31, 2014
06:34 EDTBNPQYNY governor steps in BNP agreement for $1B more for state fund, Reuters says
New York Govenor Andrew Cuomo stepped in to the $8.97B settlement agreement between U.S. authorities and BNP Paribas to guarantee that the state government would receive a much larger share of the proceeds, according to Reuters, citing three people familiar with the situation. One of the sources said that the governor called Manhattan District Attorney Cyrus Vance to aim for a larger piece of the $2.2B that was going to be accessible to the attorney to use for law enforcement projects. Reference Link
July 25, 2014
06:19 EDTBNPQYUSDA announces $80M False Claims Act judgement entered against BNP
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July 21, 2014
11:34 EDTBNPQYBNP suit prompts calls for whistleblower rewards in banking, Reuters says
BNP Paribas' $9B settlement with U.S. authorities, assisted by internal whistleblowers, has prompted calls for federal banking regulators to defend and offer incentives to individuals who report wrongdoing by banks, according to Reuters, citing comments from architect of the Securities and Exchange Commission's whistleblower representation program Jordan Thomas. Reference Link

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