Saturday, February 28, 2015   

US named watchdog for BNP
(06-24 16:13)

New York state financial regulators appointed a corporate monitor within the US offices of BNP Paribas late last year to keep an eye on its activities, the New York Times reported Tuesday.
That quietly designated monitor is Shirah Neiman, a former deputy United States attorney in Manhattan, the Times said, quoting people briefed on the matter.
The French bank is suspected of violating a US embargo by allowing transactions with blacklisted countries such as Sudan, Iran and Cuba.
The bank could be hit with a fine of up to nine billion dollars and other sanctions, and could plead guilty as early as next week, the newspaper said.
The New York state Department of Financial Services is on the verge of appointing a similar watchdog for Credit Suisse, which is accused of helping Americans avoid paying taxes, the paper said.
In this case the person could be Neil Barofsky, a former federal prosecutor who oversaw the so-called TARP, the US program to bail out banks after the financial crisis of 2008.
Barofsky is now a lawyer at a private firm. In a recent book on his experience in the oversight role, he lambasted some Wall Street practices, the Times said. --AFP   
Other Business breaking news:
German MPs okay Greek bailout extension by big majority (02-27 18:45)
Hang Seng retreats, Shanghai gains (02-27 17:33)
Iberia and BA owner IAG posts profit, cites costs savings (02-27 17:28)
Airbus reports 2.3b euros earnings, predicts more orders (02-27 17:22)
Lloyds reports profits, announces first dividend since bailout (02-27 16:30)
Europe equities steady (02-27 16:19)
Novartis Japan hit with suspension over side-effect reporting (02-27 14:50)
Nikkei reaches new 15-year high (02-27 14:35)
Chinese got 6,985 US investor visas n 2013 (02-27 13:49)
Chinese billions in US open avenues for investment fraud (02-27 13:37)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.