Compliance culture an issue for non-US banks, expert warns
The recent fine against BNP Paribas for sanctions violation has shone a light on the issues non-US banks face in trying to comply with US regulations, says one legal expert
Non-US banks are still shying away from compliance with US regulations, one legal expert has warned. Two weeks after French bank BNP Paribas agreed to pay a fine of $8.97 billion to US regulators for breaching sanctions against trading with Iran, Sudan and Cuba, James Odell, a New York-based partner at law firm Blank Rome, says there are still issues to be addressed when it comes to non-US banks complying with US regulations on such matters.
"If the worry is that large banks might not be taking
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