World News: 00:07 GMT Thursday 3rd July 2014. [Yahoo Business News Feed via SPi World News]
By Sarah N. Lynch WASHINGTON (Reuters) - An official at the U.S. Securities and Exchange Commission broke ranks with other commissioners and voted against granting BNP Paribas a waiver to continue operating several investment advisory units in the United States. Kara Stein, a Democratic SEC commissioner who has recently demanded more accountability for big banks who break the law, was the sole dissenting vote on Monday on the temporary waiver, according to a document made public this week. BNP's application was granted the same day that BNP, France's largest bank, pleaded guilty to criminal charges it violated U.S. sanctions and agreed to pay a $9 billion penalty. The temporary waiver will become permanent, unless an "interested person" in the matter is granted a hearing.
Read More: http://news.yahoo.com/exclusive-sec-official-dissented-bnp-paribas-waiver-204331593--sector.html
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.