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US SEC official dissented on BNP Paribas waiver

BNP's application was granted same day that BNP, France's largest bank, pleaded guilty to criminal charges it violated US sanctions

Reuters  |  Washington 

An official at the US 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 US ...

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First Published: Thu, July 03 2014. 11:19 IST
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