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Violation Tracker Individual Record

Company: Societe Generale S.A.
Current Parent Company: Societe Generale
Penalty: $860,000,000
Year: 2018
Date: June 4, 2018
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: interest rate benchmark manipulation
Mega-Scandal: Foreign Bribery
Violation Description: Societe Generale S.A. and its wholly owned subsidiary SGA Societe Generale Acceptance N.V. agreed to pay a combined total penalty of more than $860 million to resolve charges with criminal authorities in the United States and France, including $585 million relating to a multi-year scheme to pay bribes to officials in Libya and $275 million for violations arising from its manipulation of the London InterBank Offered Rate (LIBOR), one of the world's leading benchmark interest rates. SGA Societe Generale Acceptance N.V. agreed to plead guilty in the Eastern District of New York in connection with the resolution of the foreign bribery case. Societe Generale entered into a deferred prosecution agreement in connection with the FCPA charge.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: plea & deferred prosecution agreement
HQ Country of Current Parent: France
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.