BNP Paribas Probed Over Middleman Fee for Deutsche Bank Deal
- Payment scrutinized by French anti-corruption agency AFA
- French regulators preparing a report for coming weeks
A BNP Paribas SA logo sits on a sign outside a BNP Paribas bank branch in Paris, France.
Photographer: Christophe Morin/BloombergThis article is for subscribers only.
BNP Paribas SA’s deal for Deutsche Bank AG’s business catering to hedge funds, a landmark agreement aimed at vaulting the lender into the Wall Street elite, is being scrutinized by French regulators over a fee to a middleman.
The bank paid hundreds of thousands of pounds to former Goldman Sachs Group Inc. banker Simon Lloyd months after the transaction was completed in September 2019, according to people familiar with the matter. The French anti-corruption agency, known as AFA, identified the incident during a routine audit and is due to issue a report in the next few weeks.