BNP Paribas SA (BNPP.PA)
23 Mar 2017
Latest Key Developments (Source: Significant Developments)
BNP Paribas SA:Says a BNP Paribas SA unit must pay $16.6 million to a London-based couple in a dispute stemming from an investment product that is typically sold to hedge funds and institutional clients, a securities arbitration panel has ruled -Reuters.Says Arbitrators from the Financial Industry Regulatory Authority (FINRA) found BNP Paribas Securities Corp liable in the case, which alleged gross negligence and civil fraud.Says the ruling in the long-running case, which began in 2010, includes $16.1 million in compensatory damages, which represents the full amount initially sought by the couple plus interest. Full Article
BNP Paribas unit Arval has entered into a memorandum of understanding to acquire GE capital's european fleet operations
BNP Paribas SA:Said unit Arval has entered into a memorandum of understanding to acquire ge capital's european fleet operations.The completion of the transaction is expected in the fourth quarter of this year. Full Article
BNP Paribas SA:Places part of stake in Klepierre at 39.60 euros per share.Raises 870 million euros from stake sale.Says sale will have positive impact of 5 bps on CET1 ratio. Full Article
PARIS, March 21 France's BNP Paribas plans to cut investment banking staff in France, the United Kingdom and Luxembourg by the end of 2018, although staffing levels at the business should remain stable in Europe overall, it said in its annual report.