By Sudip Kar-Gupta PARIS (Reuters) - Jerome Kerviel, the banker blamed for the world's worst rogue trading scandal, has changed his legal team to focus on a more "aggressive" defense strategy, a spokeswoman for Kerviel said on Saturday. "The new team's strategy is...
By Sudip Kar-Gupta PARIS (Reuters UK) - Jerome Kerviel, the banker blamed for the world's worst rogue trading scandal, has changed his legal team to focus on a more "aggressive" defence strategy, a spokeswoman for Kerviel said on Saturday. "The new team's strategy is to go...
PARIS (Reuters UK) - France's Banking Commission on Friday fined Societe Generale SOGN 4 million euros (3.2 million pounds) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss. In a decision e-mailed to Reuters, the Banking Commission ...
Business News IN BRIEF *Angry shareholders turned on the chairman of Societe Generale yesterday after it fell victim to the world's biggest rogue trading scandal. The backlash came at an AGM held five months after SocGen unveiled 4.9bn (3.75bn) in trading losses, blamed on unauthorised stock markets...
PARIS AFP — Shareholders heckled and jeered management of French bank Societe Generale at its annual general meeting on Tuesday, taking them to task for the loss of billions blamed on a rogue trader. Chairman Daniel Bouton, who has resisted heavy pressure to resign over the scandal, was...
PARIS AFP — Directors at French bank Societe Generale come face-to-face with shareholders on Tuesday for the first time since a rogue trader scandal wiped billions from the bank's balance-sheet. Some 300,000 shareholders are entitled to attend the company's annual general meeting in western Paris's La Defense business...
Business News IN BRIEF *Investigators at Societe Generale said they suspect the former futures trader Jerome Kerviel was helped by an assistant to cover up massive trading positions that led to a multibillion-euro loss. They say the French bank's management failures and culture of risk- taking were...
Byline: Oliver Good Global fund of water funds will be launched as Luxembourg-domiciled fund in June Williams de Broe has teamed up with Societe Generale to launch a global fund of water funds. The vehicle is...
Business News IN BRIEF *French banking group BNP Paribas has walked away from bidding for beleaguered rival Societe Generale, which became the centre of frenzied takeover speculation after it suffered 4.9bn (3.9bn) losses from a rogue-trading scandal. BNP released a statement yesterday saying: "Given...
European trader' freed News IN BRIEF *Paris Jerome Kerviel, the trader accused of causing record losses at the French bank Societe Generale, has been freed under tight controls pending an investigation. SocGen lost 3.9bn in January in the biggest trading scandal in history which it said was...
SAN DIEGO -- Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia") (http://www.csgrr.com/cases/socgen/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of all purchasers of the American Depositary...
Business News IN BRIEF *A second Societe Generale employee has been arrested as part of the inquiry into a rogue trading scandal at the bank. The bank confirmed that police had searched its trading floor and held Manuel Zabraniecki, a cash equities broker, for questioning. SocGen blames...
The UK financial watchdog has warned banks to tighten their controls and introduce a trading-floor culture that protects against rogue traders in the wake of the 4.9bn losses at Societe Generale sparked by Jerme Kerviel. The Financial Services Authority, the UK markets regulator, yesterday cautioned the City...
PARIS AFP — French police on Wednesday detained a second Societe Generale employee for questioning over the multi-billion dollar rogue trader scandal at the French banking giant. The man worked on Societe Generale's trading floor and had contacts with rogue trader Jerome Kerviel, a bank spokesman said, adding...
NEW YORK AFP — A class-action suit filed Wedneday against Societe Generale alleges the French bank misled investors about its exposure to risky US mortgage securities and failed to clamp down on a rogue trader who ran up massive losses. Law firm Cohen Milstein Hausfeld & Toll filed...
WASHINGTON -- The law firm Cohen, Milstein, Hausfeld & Toll, P.L.L.C. has filed a lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of American Depository Receipts ("ADRs") of Societe Generale SocGen (OTC:SCGLY), traded on the over the counter market,...
WASHINGTON -- Cohen Milstein Hausfeld & Toll P.L.L.C. today filed the first lawsuit on behalf of all purchasers of American Depository Receipts ("ADRs") of Societe Generale SocGen, traded on the over the counter market, and all U.S. purchasers of SocGen's shares on overseas exchanges, between August 1, 2005 and January...
PARIS AFP — French bank Societe Generale, forced into a capital increase by a massive rogue trader scandal, said on Tuesday that demand for the new shares totalled almost twice the amount of stock on offer. The group launched the operation in February to raise 5.5 billion euros...
Our Sipp columnists puts in place the building blocks of his Sipp strategy for the year ahead. David Stevenson I've taken out a reasonably large hedge on my self-invested personal pension Sipp by buying up two SocGen covered warrant puts on the FTSE...
INVESTMENT GUIDE: While defined return products mean you miss out on the opportunity of capital gains, they do offer a relatively safe way for Sipp investors to target higher returns. David Stevenson Would you swap the chance to make large capital gains for...
Articles 2008-03-05
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