BNP Paribas Upsets Japanese Regulator

Reuters reports that Japan's Financial Services Agency has sanctioned BNP Paribas following an inspection of the firm's Japanese trading unit last week.

Japanese financial regulators are currently on the war-path and are determined that their markets remain squeeky clean. BNP is the latest firm to be penalized, allegedly for conducting a series of transactions involving exchangeable bonds designed to manipulate market prices. Bank of America Japan was also sanctioned earlier in the year for another infringement of the rules.

BNP has been ordered to halt stock trading on its own account from 9th - 20th December for violating the securities regulations.

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