Violation Tracker Individual Record

Company: 
BNP Paribas S.A.
Current Parent Company: 
BNP Paribas
Penalty: 
$246,000,000
Year: 
2017
Date: 
July 17, 2017
Primary Offense: 
foreign exchange market manipulation
Violation Description: 

The Board levied the fine after finding deficiencies in BNP Paribas's oversight of, and internal controls over, FX traders who buy and sell U.S. dollars and foreign currencies for the firm's own accounts and for customers. The Board said the firm failed to detect and address that its traders used electronic chatrooms to communicate with competitors about their trading positions.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Federal Reserve
Civil or Criminal Case: 
civil
HQ Country of Parent: 
France
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.