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Weekly Roundup: U.S. Extends Swiss Data Handover Deadline, Pope Appoints Former Egmont Head to Financial Intelligence Unit, and More
printOfficials within the U.S. Justice Department floated the possibility of a $16 billion penalty for alleged sanctions violations by BNP Paribas, Reuters said Friday. The department used the figure as a negotiating tactic with the bank, which will reportedly pay as much as $10 billion, the largest ever penalty of its kind if imposed. More British regulators are struggling to show that they can be tough on financial institutions accused of compliance lapses, The New York Times reported Wednesday. Since investigative missteps have come to light in connection with multiple cases, the U.K. Serious Fraud Office has yet to announce...
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