Société Générale S.A. agrees to pay penalties to the U.S. over sanctions violations
Société Générale S.A. has agreed to pay $1,340,165,000 for violations of the U.S. Trading with the Enemy Act. By agreeing to this fine, as well as accepting responsibility for a lengthy ‘Factual Statement’, refraining from future criminal conduct and implementing remedial measures as required by its regulators, Société Générale S.A. has deferred prosecution for three-years. After this time period, if all requirements have been met, the U.S. Government will seek to dismiss the charges.
The fine consists of payments of the following amounts to the following authorities:
$717,200,000 to the U.S. Attorney’s Office of the Southern District of New York (Press release)
$162,800,000 to the New York County District Attorney’s Office (Press release)
$53,900,000 to OFAC (Announcement, Enforcement information, Settlement notice)
$81,265,000 to the Federal Reserve (Press release)
$325,000,000 to the New York State Department of Financial Services (Press release)
