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Stock Market & Financial Investment News

News Breaks
June 30, 2014
17:20 EDTBNPQYFed reports $508M penalty against BNP Paribas
The Federal Reserve on Monday announced a $508M penalty against BNP Paribas, Paris, France--the largest penalty ever assessed by the agency--for violations of U.S. sanctions laws. The Federal Reserve also issued a joint cease and desist order with the Autorité de Contrôle et de Prudentiel et de Résolution, ACPR, the home country supervisor of BNP Paribas. The cease and desist order requires BNP Paribas to implement a program to ensure global compliance with U.S. sanctions laws. BNP Paribas continues to operate branches in New York, Chicago, and San Francisco, and an agency in Houston, all of which are covered by the enhanced policies and procedures required by the order. 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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