BNP Paribas fined US$350m in FX probe

摘要

French bank BNP PARIBAS last week agreed to pay US$350m to New York's banking watchdog to resolve a probe of misconduct in its foreign exchange business, which the regulator said enhanced the bank's profits at customers' expense. More than a dozen traders and salespeople in New York and other trading hubs manipulated foreign exchange rates and engaged in other illegal activity while the bank failed to properly supervise the business, the New York Department of Financial Services (DFS) said in a statement.