Editor, Global Regulatory Briefing
Randall's Feed
Jun 19, 2014
via Financial Regulatory Forum

BNP’s ‘huge’ role in undermining U.S. Sudan sanctions behind looming tough penalty, sources say

By Brett Wolf, Compliance Complete ST. LOUIS, June 18 – The pivotal role BNP Paribas played in helping Sudan sell oil in violation of U.S. sanctions is the major reason U.S. authorities are pushing for harsh penalties against the French banking giant, two sources with firsthand knowledge of the matter said.”BNP basically was the Sudanese economy. They were just huge in helping the government of Sudan evade U.S. sanctions,” one of the sources said.BNP’s role involved removing references to Sudanese parties from wire-transfer messages, so U.S. dollar oil payments could clear through New York and move into accounts controlled by Khartoum, the sources said. The sources declined to name the buyers of the Sudanese oil or to say what Khartoum did with the revenue.

The dollar is the primary currency for the global oil trade.

The prohibited transactions ran into the “many billions of dollars,” and their “sheer volume” weakened the U.S. sanctions from 2002 and “well beyond 2009,” the other source said. He added that the sums involved and the damage to sanctions “factored into the mix” as authorities calculated the approximate size of the penalty that would be demanded from the bank.

May 29, 2014

Pearl S. Buck’s last novel, a ‘crypto-autobiography’

BOSTON (Reuters) – It is hard to imagine a China so remote in Western imagination that a single American writer could serve as one of the few popular translators of its culture.

But that was a status Pearl S. Buck carried after her 1931 novel “The Good Earth” launched a prolific career that made her a global celebrity. She won a Pulitzer prize for the book, and a Nobel prize in 1938 for the body of her work.

May 8, 2014

Pearl S. Buck’s last novel, a ‘crypto-autobiography’

BOSTON (Reuters) – It is hard to imagine a China so remote in Western imagination that a single American writer could serve as one of the few popular translators of its culture.

But that was a status Pearl S. Buck carried after her 1931 novel “The Good Earth” launched a prolific career that made her a global celebrity. She won a Pulitzer prize for the book, and a Nobel prize in 1938 for the body of her work.

May 8, 2014

Book Talk: Pearl S. Buck’s last novel, a “crypto-autobiography”

BOSTON, May 8 (Reuters) – It is hard to imagine a China so
remote in Western imagination that a single American writer
could serve as one of the few popular translators of its
culture.

But that was a status Pearl S. Buck carried after her 1931
novel “The Good Earth” launched a prolific career that made her
a global celebrity. She won a Pulitzer prize for the book, and a
Nobel prize in 1938 for the body of her work.

Mar 4, 2014
Mar 4, 2014
Feb 6, 2014
Jan 2, 2014
Dec 26, 2013

‘Cartographer of No Man’s Land’ on World War One’s place in fiction

BOSTON (Reuters) – Writer P.S. Duffy wove her affection for Nova Scotia’s maritime culture, a career in science and a background in history into a debut novel depicting the trauma of World War One on the psyche and society.

The book, “The Cartographer of No Man’s Land,” is about a young would-be artist and his scarred return home after the Battle of Vimy Ridge, where Canada’s victory helped forged its national identity.

Dec 26, 2013

Book Talk:-’Cartographer of No Man’s Land’ on World War One’s place in fiction

BOSTON, Dec 26 (Reuters) – Writer P.S. Duffy wove her
affection for Nova Scotia’s maritime culture, a career in
science and a background in history into a debut novel depicting
the trauma of World War One on the psyche and society.

The book, “The Cartographer of No Man’s Land,” is about a
young would-be artist and his scarred return home after the
Battle of Vimy Ridge, where Canada’s victory helped forged its
national identity.