BNP Paribas announces legal settlement

BNP Paribas has announced a comprehensive settlement of the pending investigation relating to US dollar transactions involving parties that are subject to US sanctions. The settlement includes agreements with the U.S. Department of Justice, U.S. Attorney’s Office for the Southern District of New York, the New York County District Attorney’s Office, the Board of Governors of the U.S. Federal Reserve System (FED), the New York State Department of Financial Services (DFS), and the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). The settlement includes guilty pleas entered into by BNP Paribas in relation to violations of certain