BNP Paribas insider probe dropped

Gavel

French prosecutors said on Wednesday they were dropping an inquiry into alleged insider trading by several executives at BNP Paribas after finding no signs of wrongdoing.

Reuters reports that prosecutors opened a preliminary investigation in October after receiving an anonymous letter flagging alleged insider trading deals by several top executives in 2013.

At the time the bank was the target of a U.S. sanctions violations probe that eventually led to BNP Paribas getting hit with a fine of almost $9bn.

'All of the information gathered excludes any possibility of insider trading by BNP Paribas executives in their transactions in the company's shares in 2013 and until the fine was announced in 2014', the prosecutors said in a statement.

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French prosecutors drop BNP Paribas insider trading probe

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