ACPR sanctions Société Générale over Insurance intermediation practices
ACPR has reprimanded Société Générale and imposed a fine of 20 million EUR (23.2 million USD) over shortcomings in its insurance intermediation activities. The French regulator, ACPR, has issued a formal reprimand and a €20 million ($23.2 million) fine against Société Générale. The reason is an inspection (2023-2024) revealed major flaws in the bank’s insurance […]
EBRD announces settlement with four entities of the French Egis group
The EBRD and four Egis entities reached a settlement over fraudulent practices in two EBRD-financed projects. The sanction consisted of a 33-month conditional ban. The settlement reduces the sanction due to voluntary disclosures and other corrective actions by the Egis entities. The European Bank for Reconstruction and Development (EBRD) announced that it has imposed a […]