PARIS, Aug 5 (Reuters) - Natixis has agreed to sell its commodities trading arm to Chinese brokerage GF Securities, a spokeswoman for the French bank said on Monday.
The move comes as banks are facing increased regulatory scrutiny over an area which was once seen as a fast-growing market but has since emerged as a drag on capital at a time of tougher requirements.
The Financial Times earlier reported the Chinese brokerage paid slightly less than $40 million in cash for the unit. That figure could not immediately be confirmed.
Reporting By Christian Plumb, editing by Astrid Wendlandt