BNP Paribas Found Liable for Enabling Sudan Atrocities
A Manhattan federal jury found BNP Paribas liable for enabling genocide in Sudan under the Omar al-Bashir regime, raising speculation it could face a multibillion-dollar settlement, Bloomberg reported.
Bank Compliance Slow Services for Some in Europe’s Growing Defense Sector
European lenders are re-engaging with defense companies but smaller firms in the sector’s supply chain are running into hurdles clearing bank compliance requirements, according to new reporting by The Banker.
NY Jury Weighs Whether BNP Paribas Enabled Sudan Atrocities
A federal jury in Manhattan began deliberations Thursday on claims that BNP Paribas helped enable atrocities in Sudan under former ruler Omar al-Bashir in a civil case brought by Sudanese survivors, Le Monde and AFP reported.
Bank of America, BNY Mellon Sued for Alleged Compliance Failures Linked to Epstein
New class-action lawsuits allege that Bank of America and BNY Mellon enabled Jeffrey Epstein’s trafficking of underage girls, in part by failing to report suspicious activity linked to the financier until after his death in 2019, The Wall Street Journal reported.
EU Lawmakers Move to Scale Back ESG Directives
European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported.
FDIC Moves to Limit Bank Examiner Warnings to ‘Material’ Risks
The Federal Deposit Insurance Corp. (FDIC) proposed tightening how bank examiners issue warnings and penalties, aiming to keep supervision focused on safety and soundness, according to report by Bloomberg.
UBS to Pay Nearly $1 Billion for Alleged Role in French Tax Evasion
UBS Group AG will pay €835 million ($985.6 million) to resolve a yearslong case in France over allegations the Swiss bank helped wealthy clients evade taxes.
HK Regulator Bans Ex-Citi Asia Equities Head for Poor Compliance
Hong Kong has banned Richard Charles Heyes, Citigroup’s former head of pan-Asia equities, from re-entering the financial industry for five years after finding him liable for regulatory breaches.