Societe Generale Ends Libya, LIBOR Investigations with $1.3 Billion in Penalties

By Regulation, litigation

Societe Generale Ends Libya, LIBOR Investigations with $1.3 Billion in Penalties

French banking firm Société Générale has agreed to pay US$ 1.3 billion in penalties to regulatory authorities in the United States and France, bringing multiple investigations into its alleged involvement in the bribery of official’s linked to the fractured Libyan Investment Authority (LIA) as well as its attempted manipulation of interest rates – including the London Interbank Offered Rate (Libor) to a close.

SWFI – Sovereign Wealth Fund Institute

https://www.swfinstitute.org/swf-news/societe-generale-ends-libya-libor-investigations-with-1-3-billion-in-penalties/

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