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France's financial supervisor has fined the insurance wing of BNP Paribas €2.5 million for anti-money laundering and other violations, marking the latest of several punitive actions the agency has taken against insurance companies in recent years. In a 12-page decision , the Autorite de Controle Prudentiel et de Resolution, or ACPR, cited "serious shortcomings" in the subsidiary, Cardif Assurance Vie, including poorly calibrated transaction-monitoring software, outdated lists of parties subject to sanctions and at least 14 cases where the firm failed to apply enhanced due diligence. With more than 8,000 employees in 33 countries and gross revenue of nearly €25...