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BNP’s Treatment of Bribery Whistle-Blowers Gets FCA Scrutiny

March 30, 2022, 1:40 PM

BNP Paribas SA faced extra scrutiny from the U.K.’s markets watchdog over how it treats its own whistle-blowers, documents disclosed at a London employment tribunal revealed.

The Financial Conduct Authority conducted a “specialist-led financial crime visit” at BNP Paribas’s London offices following allegations that the French lender sold products unlawfully through a network of “rogue” agents to win business in Italy. The documents were disclosed as part of an employment suit brought by Fabio Filippi, the ex-head of structured products in Italy, who said he was pushed out of the bank for raising concerns about the practice.

BNP Paribas ...