The US Justice Department has BNP Paribas SA (EPA:BNP) (OTCMKTS:BNPQY) in its target zone, seeking the bank to pay a $10 billion fine to put to rest a criminal investigation into charges the French bank violated US sanctions against Iran and other countries for years, the Wall Street Journal is reporting, citing people familiar with the negotiations. The negotiations are currently focused on the amount of the fine and on the bank potentially losing some of its banking privileges in the US. A conclusion to the talks is expected in weeks. BNP Paribas SA (EPA:BNP) (OTCMKTS:BNPQY) had previously announced that an…
DoJ Could Fine BNP Paribas $10 Billion
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.