SocGen Sets Aside €1.1B To Cover US Sanctions Fines

By Najiyya Budaly (September 4, 2018, 1:24 PM BST) -- Societe Generale SA revealed on Tuesday that it has set aside €1.1 billion ($1.27 billion) to settle expected fines by various U.S. authorities for violations of U.S. economic sanctions laws.

France-based Societe Generale SA has been investigated by six U.S. authorities over transactions the bank has processed, and said Tuesday it has set aside €1.1 billion to settle expected fines. (AP) The sum represents the lion's share of the €1.43 billion that the banking and insurance group expects to pay to settle regulatory wrangles overall.

SocGen has been investigated by six U.S. authorities — including the U.S. Department of the Treasury's Office...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!