To Mollify U.S., Troubled French Bank Will Move Top Compliance Executives to New York

By Brian Monroe

Beleaguered bank BNP Paribas SA will move several top compliance positions to New York City in a bid to please the U.S. Justice Department and American regulators preparing to fine the institution. The Paris-based bank could pay as much as $3.5 billion for violating sanctions against Sudan, Cuba and Iran, Bloomberg reported Tuesday, citing multiple unnamed sources. The bank said in April that it could pay more than the $1.1 billion it had previously set aside for a potential settlement with federal and state investigators looking into the matter. As a result of the violations, which involve the removal of...