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.
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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.
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