The Federal Reserve Board has levied a $246 million civil penalty against BNP Paribas S.A. and its U.S. subsidiaries for “unsafe and unsound practices” related to manipulating foreign currency rates.
The Fed’s action on Monday follows a May 24 fine announced against BNPP by the New York State Department of Financial Services for $350 million relating to the same issue. This brings the total penalty to $596 million.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
