January 26, 2018

Statement by DFS Superintendent Maria T. Vullo Regarding the Resolution of Illegal Conduct by BNP Paribas USA Inc.'s Foreign Exchange Trading Business

"DFS appreciates BNP Paribas’s final resolution of significant, long-term violations and past misconduct related to its foreign exchange business through an agreement last year with DFS and more recently with the Department of Justice. Working with DFS on necessary remedial measures related to internal controls and compliance risk management with regard to New York laws and regulations, the bank can now put these outstanding matters behind it and effectively move forward under continued strong supervision by DFS."