$90 Million penalty for BNP Paribas in ISDAFIX Investigation

August 30, 2018 Robert Garson
Whistleblower Bank & Financial GS2LAW

The Commodities and Futures Trading Commission issued a $90,000,000 penalty this week to BNP Paribas arising out of the ISDAFIX scandal, a global investigation launched by a GS2Law whistleblower.

The CFTC Order shows that over a 5–year period, between 2007 through 2012, BNP Paribas attempted to manipulate the ISDAFIX benchmark to benefit its own positions. The Order further identifies that the behavior was not just limited to traders but also included supervisors.

The ISDAFIX investigation is set to become the most successful enforcement operation across all the federal agencies, arising out of the whistleblower provisions of the Dodd-Frank reforms.

For further information please contact Robert Garson