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Kerviel states his actions were known to his superiors and that the losses were caused by panic selling by the bank. Société Générale's own wrongs were later established by a French jurisdiction, which led the Cour de cassation to cancel the €4.9 billion sanction on Kerviel. [2]
In 2009, as a regulatory response to the revealed vulnerability of the banking sector in the financial crisis of 2007–08, and attempting to come up with a solution to solve the "too big to fail" interdependence between G-SIFIs and the economy of sovereign states, the Financial Stability Board (FSB) started to develop a method to identify G-SIFIs to which a set of stricter requirements would ...
Société Générale S.A. (French: [sɔsjete ʒeneʁal]), colloquially known in English-speaking countries as SocGen (pronounced [sɔk ʒɛn]), [3] is a French multinational universal bank and financial services company founded in 1864. It is registered in downtown Paris and headquartered nearby in La Défense.
Jérôme Kerviel (French pronunciation: [ʒeʁom kɛʁvjɛl]; born 11 January 1977) is a French rogue trader who was convicted and imprisoned in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use of the bank's computers, resulting in losses valued at €4.9 billion.
In 1999, BNP and Société Générale fought a complex battle on the stock market, with Société Générale bidding for Paribas and BNP bidding for Société Générale and counter-bidding for Paribas. BNP's bid for Société Générale failed, while its bid for Paribas succeeded leading to a merger of BNP and Paribas one year later on 23 May ...
While its legal headquarters remains in Lévis, most of the executive management, including the CEO, is based in Montreal. [3] As of 2017, Desjardins Group consists of 293 local credit unions operating 1,032 points of service and serving more than seven million members and clients, mostly in the provinces of Quebec and Ontario. [4]
Ici Radio-Canada Télé (stylized as ICI Radio-Canada Télé, and sometimes abbreviated as Ici Télé) is a Canadian French-language free-to-air television network owned by the Canadian Broadcasting Corporation (known in French as Société Radio-Canada [SRC]), the national public broadcaster. Its English-language counterpart is CBC Television.
Société Nationale de Crédit et d'Investissement (SNCI) is a public-law banking institution in Luxembourg City. According to its website, it is designed to encourage business investments, start-ups, and research initiatives. Founded in 1978, it is wholly owned by the State of Luxembourg.