The long running investigation into BNP Paribas is expected to conclude with an admission of guilt and an $8.9 billion fine early next week. Although the deal between the bank and US authorities had yet to be signed at close of business yesterday, it is likely that the announcement will be made on Monday. As well as the plea, details of how the bank had managed the deals through its US operation. Although the penalty is a record, the bank could have lost its licence but will face logistical problems from an expected suspension of its ability to trade in US dollars. Read the full story.
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