Benjamin Lawsky, New York’s financial regulator, is reportedly asking BNP Paribas to fire few senior executives as part of a probe that the French bank evaded US sanctions against Iran and other countries for years.
As part of the move, Lawsky claimed that more than a dozen employees should be fired, reported Reuters.
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He added that most of the firings are expected from the bank’s upper management.
However, Lawsky was not expecting the bank’s top two or three executives to be fired.
The publication reported that few employees have already been informed that they will no longer be with the bank, and more firings were expected.
The identities of the employees were not revealed and it is uncertain how Lawsky plans to push his demand, according to Reuters.
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By GlobalDataThesettlement details reveals that regulators are now demanding that bank employees be held personally accountable for their activities.
"If a bank commits a criminal act or if a bank commits serious regulatory violations, someone within that bank did it. The corporation is an inanimate thing," Lawsky said.
