French Regulator Socks SocGen With $6M Fine
Banque de France's Commission Bancaire said on Friday that it had found “serious shortcomings” in SocGen's internal controls, which led to the $7 billion-plus in losses earlier this year. SocGen will have to shell out €4 million as penalty.
The regulator also issued France's second-biggest bank a formal warning, stating that failures in the hierarchical...
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