French Agency Probes Bank Subprime Lending: Report

Law360, New York (July 18, 2008, 12:00 AM EDT) -- A French stock market policing agency has reportedly begun an investigation into several French banks, including Societe Generale and Credit Agricole SA, examining the companies' financial communications regarding the subprime mortgage crisis.

The Autorité des Marchés Financiers opened its inquiry into those two banks as well as Natixis Global Access Management several weeks ago, French financial publication Les Echoes reported Thursday, citing unnamed sources.

The goal of the investigation is to determine whether the information put out by the three companies on the subprime crisis in...
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