Deferred Prosecution Agreement Societe Generale

• With respect to IBOR and Libyan affairs, Genere has agreed to a three-year deferred prosecution agreement („DPA“). A DPA is an agreement between a prosecutor and an accused in which a prosecutor postpones prosecutions for a specified period of time. If the accused fulfils certain conditions, the prosecutor undertakes to dismiss the charge after the expiry of the postponement period. With respect to the IBOR and Libyan affairs, the DOJ will terminate the proceedings after three years if Generierung complies with the provisions of the DPA – which includes internal reporting obligations and remedies – to which the Bank is fully committed. With respect to these comparisons, no independent compliance monitor was imposed. Violations of trade sanctions on Monday by the conclusion of two deferred prosecution agreements and the payment of penalties of $US 1.34 billion to federal and regional authorities. Legg Mason Inc., a Maryland-based investment management firm, settled FCPA violations in Libya caused by its partner Societe Generale S.A., agreeing Monday to pay $64.2 million in penalties and compensation. Read More SocGen has significantly fixed its compliance program. In 2009, a group sanctions compliance function was created, which has grown from a single employee to 31 people by 2017. SocGen`s Compliance Group staff increased from 169 to 785 employees and the Financial Crime Department increased from 16 to 106 people. .

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