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New York State's top banking regulator, Benjamin Lawsky, is asking BNP Paribas SA to fire some senior executives as part of a settlement of allegations that the French bank violated U.S. sanctions, two sources familiar with the matter said Saturday. Lawsky has demanded that more than a dozen employees be terminated, and one of the sources said that includes people in the bank's "upper management". The other source said Lawsky is not expected to want the bank's top two or three executives fired. BNP Paribas is also in talks with other U.S. authorities, including the Justice Department and the Manhattan District Attorney, to resolve probes into whether it evaded U.S. sanctions related primarily to Sudan from roughly 2002 through 2009 . Although the monetary penalty is not yet set, one source said, negotiations with BNP Paribas were now "north of $8 billion".The bank also faces other potentially damaging penalties.
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