SocGen – New Reports Due Today

/1 Comment/in ,

And I will have a report as soon as they are released.


SocGen probe treads fine line
A report into the rogue trading scandal at Société Générale due tomorrow will be critical of the culture and behaviour of France’s second-biggest bank.

The report is expected to detail how the bank flouted its own controls, making it easier for Jérôme Kerviel, a former trader, to build up €50bn ($79bn) in alleged unauthorised positions.

The report by SocGen’s special committee of three non-executive directors will portray a bank in which enforcing controls was not a priority, as it sought to grow its investment banking business.

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  1. Anonymous
    Anonymous says:

    Was the report released and would you be able to provide your blog members a copy of the report?

    Thanks

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