French financial regulators launched disciplinary proceedings against Société Générale last September, following an investigation into its private bank, the French banking group has revealed.
The French banking and insurance regulator L’Autorité de contrôle prudentiel (ACP) initiated the action following an investigation into the bank’s controls on money laundering and terrorism financing.
Société Générale reported the matter in its 2012 registration document, dated March 2.
According to the document the investigation was part of a broader enquiry into large French companies.
A spokesman for Société Générale Private Bank had no further comment.