The regulator is said to have demanded that more than a dozen employees be terminated,
New York state's top banking regulator, Benjamin Lawsky, is asking BNP Paribas to fire some senior executives as part of a settlement of allegations that the bank violated U.S. sanctions, two sources familiar with the matter said on Saturday.
Reuters reports that Lawsky has demanded that more than a dozen employees be terminated, and one of the sources said that includes people in the bank's 'upper management'. The source declined to provide further details.
The other source said Lawsky is not expected to want the bank's top two or three executives fired. Some employees have already been told they will no longer be with the bank, and more firings were expected, the source said.
The identities of the employees could not be learned. It is unclear how hard Lawsky plans to push his demand.
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