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BNP Paribas unit must pay Ontonimo Ltd $16.6 mln in arbitration-panel
2015年6月30日 / 下午3点45分 / 2 年前

BNP Paribas unit must pay Ontonimo Ltd $16.6 mln in arbitration-panel

June 30 (Reuters) - A BNP Paribas SA unit must pay $16.6 million to Ontonimo(OMO)Ltd in a dispute stemming from an investment product that is typically sold to hedge funds and institutional clients, a securities arbitration panel has ruled.

Arbitrators from the Financial Industry Regulatory Authority (FINRA) found BNP Paribas liable in the case, which alleged gross negligence and civil fraud, according to the ruling dated June 26 and posted to FINRA’s website on Tuesday.

The FINRA arbitrators, as is typical, did not include reasons for the decision. (Reporting by Suzanne Barlyn; Editing by Chizu Nomiyama)

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