BNP Paribas, which also agreed to a $350 million settlement in May with New York's state banking regulator over the deficiencies, said it "deeply regrets the past misconduct which was a clear breach of the high standards on which the group operates." It added that it has improved its systems of control by increasing resources and staff dedicated to compliance, conducting staff training and launching a new code of conduct that applies to all staff. BNP Paribas is the latest in a line of banks fined for its failure to stop traders from trying to manipulate foreign exchange markets.