Violation Tracker Individual Record

Company: 
BNP Paribas S.A.
Current Parent Company: 
BNP Paribas
Penalty: 
$350,000,000
Year: 
2017
Date: 
May 24, 2017
Offense Group: 
competition-related offenses
Primary Offense: 
foreign exchange market manipulation
Violation Description: 

BNP Paribas S.A. and its New York branch agreed to pay a $350 million fine as part of a consent order entered into with the New York State Department of Financial Services for violations of New York banking law arising out of the bank's global foreign-exchange business. The violations were said to have included deficiencies in the bank's oversight that allowed nearly unfettered misconduct by more than a dozen BNPP traders and salespeople.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
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.