Have a Claim?

Click here for a confidential contact or call:

1-347-417-2192

June 4, 2018

Posted  June 24, 2018

The CFTC issued an order against Société Générale S.A. settling charges of manipulation of Yen LIBOR, attempted manipulation and false reporting of Euribor and U.S. Dollar, Yen and Euro LIBORs, and aiding and abetting traders at another bank in their attempts to manipulate Euribor. The bank engaged in this misconduct to make money on its trading positions and to protect its reputation from speculation that it was having more difficulty borrowing unsecured funds than other banks. Société Générale will pay a civil monetary penalty of $475 million, cease and desist from further violations, and adhere to specific undertakings to ensure the integrity of its LIBOR, Euribor, and other benchmark interest rate submissions in the future. CFTC

Tagged in: Financial Institution Fraud, Foreign Exchange, Market Manipulation and Trading Violations,