PARIS (Reuters) - French markets watchdog the AMF has warned UK newspaper the Mail on Sunday to obey rules on financial reporting after it ended a probe into a 2011 report that said lender Societe Generale was close to collapse.
The AMF stopped short of punishing Mail parent Associated Newspapers, part of Daily Mail & General Trust, noting the paper had rapidly withdrawn the story and printed SocGen’s denial.
“At the close of the AMF’s probe, which began in August 2011, we have decided not to call for sanctions against the British newspaper but to publicly remind it of the rules governing the publication of information on listed companies,” the AMF said.
Shares of SocGen had fallen as much as 23 percent in the week following the story’s publication on August 7, 2011, before recovering most of those losses within days.
The French bank filed for damages and reportedly received a sum in settlement.
Reporting by Lionel Laurent; Editing by David Holmes