The French bank BNP Paribas has informed the UK’s National Crime Agency of its regulatory failures, according to details revealed in the information litigation.
French bank BNP Paribas has reported its regulatory failures to the UK’s National Crime Agency, according to details revealed in the information litigation.
The move became known in a dispute between BNP Paribas and a former banker who claims he became a “victim” after the disclosure of “serious criminal activity” at the bank.
Fabio Filippi, who was head of structured stock sales in Italy, is suing in London for an unfair dismissal after claims that he was fired in 2018 as a result of what he called a “fake” dismissal.
Defendants: legal documents reveal allegations that BNP Paribas branch in Milan was involved in “non-compliant practices”
Legal documents reveal allegations that the Milan branch of BNP Paribas was involved in “inappropriate practices” with regard to the sale of investment products between 2009 and 2010.
Documents show that in late 2018, the BNP Paribas compliance team filed two “suspicious activity reports” with the NCA in London, which was also reported to the Financial Control Department.
An e-mail that The Mail on Sunday reviewed in court correspondence shows that the FCA has carried out a “specialized visit on financial crimes” to the BNP’s London offices.
The bank told the Ministry of Defense that it was not aware of “any investigations into Mr Philippi’s allegations by any outside agencies.”
The spokesman said: “The issues raised by Mr Philippi are historical and related to the alleged practice in Milan in 2010. The bank conducted an extensive investigation, including a full independent audit, on the issues raised and kept our regulators informed of developments. ”
The spokesman added: “This issue is currently under consideration by the Employment Tribunal and we are waiting for their decision in due time.” We are confident in the bank’s ability to protect this issue. ”
The French bank reported its own “suspicious activity” to the British police
Source link The French bank reported its own “suspicious activity” to the British police