Report Scolds BNP Paribas Unit In Japan

A report issued yesterday by an external committee concluded that a Japanese arm of BNP Paribas has serious problems with internal compliance and controls, reports The Financial Times. A fundraising deal the French bank underwrote was "an extremely inappropriate act,

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A report issued yesterday by an external committee concluded that a Japanese arm of BNP Paribas has serious problems with internal compliance and controls, reports The Financial Times.

A fundraising deal the French bank underwrote was “an extremely inappropriate act, which treated the markets and general investors with disrespect,” the report said. It added, “there is a strong possibility that the activities of BNP Paribas’s Tokyo office correspond to insider trading.”

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