BNP Paribas hit with $15M fine for AML failures in US

Pedro Gonçalves
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BNP Paribas hit with $15M fine for AML failures in US

US-based watchdog Financial Industry Regulatory Authority (FINRA) has fined BNP Paribas Securities and BNP Paribas Prime Brokerage for lapses in anti-money laundering (AML) and supervisory systems. The failures involve penny stock deposits and resales, as well as wire transfers, that spanned four years, according to Finra. As part of the settlement, Finra required both firms to certify within 90 days that their procedures are reasonably designed to achieve compliance in these areas. ...

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