The Traderszone Network

Published in TZ Latest News 15 June, 2014 by The TZ Newswire Staff

French finance minister sees progress towards ‘more equitable’ U.S. fine for BNP Paribas

France’s finance minister said on Sunday that talks between BNP Paribas (BNPP.PA) and U.S. authorities over a potential fine for the bank for breaching U.S. sanctions had progressed towards a “more equitable” level. U.S. authorities – five of them in all, including the New York financial regulator – are investigating whether BNP evaded U.S. sanctions against Iran and other countries between 2002 and 2009. BNP may have to pay a fine of about $10 billion and face other penalties such as being suspended from clearing clients’ dollar transactions, sources close to the situation have said.

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