"Billion-Dollar Bank Settles US Government Investigation on Record Keeping, SocGen Included"
Originally Published 2 years ago — by The Daily Hodl
BNP Paribas is currently under investigation by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for potential violations of record-keeping provisions related to the use of messaging applications by its employees. The bank is in talks with regulators to settle the probes, which may result in fines. US regulators have been cracking down on Wall Street firms for the use of unapproved messaging platforms for business communications, with fines totaling $1.1 billion imposed last year.