BNP Fine Shows Need to Be Wary of U.S. Rule Changes, Noyer Says
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BNP Paribas SA’s possible fine in the U.S. for doing business with sanctioned countries shows that European banks need to ensure their compliance with evolving American rules, Bank of France Governor Christian Noyer said.
U.S. authorities are seeking a record fine against BNP Paribas that would make it the first French bank since President Barack Obama took office to be penalized for activities in countries slapped by American sanctions. BNP hasn’t breached any European rules, Noyer said.