New York’s top banking regulator is demanding sacking of one of the top executives of BNP Paribas to resolve accusations that the French bank violated US sanctions.
BNP Paribas COO Georges Chodron de Courcel is among more than a dozen employees targeted by banking regulator Benjamin Lawsky, superintendent of New York’s Department of Financial Services, according to Reuters.
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Courcel has been the company’s COO since June 2003 and his term expires in the spring of 2016.
Lawsky has stated that not just companies but individuals who indulge in wrong doings must be held accountable to prevent such instances in the future.
BNP has been facing the heat from US prosecutors to admit charges levied against it, and face a penalty in the excess of $10 billion, touted as the highest criminal penalty.
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