New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 1, 2014
06:28 EDTBNPQYFINMA closes proceedings against BNP Paribas
The Swiss Financial Market Supervisory Authority conducted enforcement proceedings against BNP Paribas. The proceedings focused on the bank's compliance with US sanctions, especially those issued against Sudan. FINMA has concluded that in particular between 2002 and 2007 the bank persistently and seriously violated its duty to identify, limit and monitor the inherent risks, subsequently breaching supervisory provisions. FINMA has ordered additional capital requirements for operational risks and banned the bank from conducting business with companies and persons subject to EU and US sanctions. The US authorities conducted an investigation against the BNP Paribas regarding the violation of US sanctions against Cuba, Iran and Sudan. FINMA also examined whether the Swiss company, the BNP Paribas had breached Swiss supervisory law in this regard. During the probe, FINMA examined how BNP Suisse identified, limited and monitored the risks emanating from its cross-border trading business from 2002 to 2011. Business developments with business partners in countries sanctioned by the US, the bank's business and monitoring policy since 2002 and compliance with internal rules and regulations were also examined. The probe conducted by FINMA revealed that, particularly in the case of Sudan, the bank had ignored and violated US sanctions up to 2011, particularly during the period from 2002 and 2007. Reference Link
News For BNPQY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 6, 2015
12:38 EDTBNPQYBNP Paribas management to meet with JPMorgan
Meetings to be held in Boca Raton/Winter Park, FL on October 5, in Austin/Houston on October 6, in Des Moines/Kansas City on October 7, in Columbus/Minneapolis on October 8 and in Denver on October 9 hosted by JPMorgan.
September 30, 2015
18:21 EDTBNPQYGeneral Electric confirms sale of railcar services to Wells Fargo
General Electric (GE) confirmed that it has reached separate agreements to sell its tank car fleet assets and railcar repair facilities to Marmon Holdings and its remaining railcar leasing business, General Electric Railcar Services to Wells Fargo (WFC). Terms of the transactions are not being disclosed. "We expect to be substantially done with our exit strategy [to sell most of the assets of GE Capital] by the end of 2016," noted GE Capital chairman and CEO Keith Sherin. "GE and its board of directors have determined that market conditions are favorable to pursue disposition of these assets. GE Capital will retain the financing 'verticals' that relate to GE's industrial businesses," the company noted. The sale of the tank car assets is effective immediately and closed Wednesday. The sale of the railcar repair facilities is expected to close in Q4. The sale of the remaining railcar leasing business is expected to close by the end of 1Q16. When completed, the rail transactions, which represent about $4B of ending net investment, will contribute approximately $1.3B of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The company also noted that the completion of the sale of GE's European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas (BNPQY), is expected to close in Q4.
September 29, 2015
12:12 EDTBNPQYAB InBev taps BofA, Santander for SABMiller offer financing, Bloomberg says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use