France's BNP bank humbled by takeover probe

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A French magistrate has launched a probe into suspected insider trading at BNP Paribas targeting current and former bosses.

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Only a few days ago, Eliane Houlette was an unknown quantity. Now, in financial circles at least, she is almost a household name. Last week, it emerged that France’s new chief prosecutor for financial crime had launched a preliminary inquiry into suspected insider trading at BNP Paribas, targeting, among others, current and former bosses: ex-chairman Michel Pébereau, outgoing chairman Baudouin Prot and chief operating officer Philippe Bordenave, reports The Financial Times.