On January 25, 2018, BNP Paribas USA Inc. (“BNPP USA”) a subsidiary of BNP Paribas S.A., pled guilty to participating in a price-fixing conspiracy in the foreign currency exchange (“FX”) market.  The one-count information filed in the Southern District of New York alleges that between September 2011 and July 2013, BNPP USA engaged in a conspiracy to suppress competition by manipulating prices on an electronic FX trading platform in violation of the Sherman Act.  The price-fixing conspiracy allegedly involved creation of non-bona fide trades, coordination of bids and offers, and agreements on currency prices to quote specific customers.  BNPP USA agreed to pay a criminal fine of $90 million and agreed to cooperate with the government’s ongoing investigation into the FX market.  United States v. BNP Paribas USA Inc., 18-cr-00061 (S.D.N.Y.)

DOJ Press Release