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Stock Market & Financial Investment News

News Breaks
June 5, 2014
06:19 EDTBNPQYTension within BNP Paribas, including whether chairman should resign, WSJ says
A debate has been sparked within BNP Paribas over whether top officials, including Chairman Baudouin Prot, should resign as tensions rise over the possibility of massive fines for allegedly violating U.S. sanctions, the Wall Street Journal reports, citing sources. The sources say the executives are disagreeing over how to respond to the U.S. probes and what line of defense the abnk should take. Reference Link
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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
July 10, 2014
06:24 EDTBNPQYBNP enters guilty plea in U.S. to overstepping sanctions, Reuters says
BNP Paribas entered a guilty in Manhattan federal court to overstepping U.S. sanctions after agreeing to pay $8.97B to resolve state and federal investigations that reached the highest echelons of French and American diplomacy, according to Reuters, citing comments from Assistant U.S. Attorney Andrew Goldstein. The bank's sentencing date is set for October 3. Reference Link

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