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Societe Generale's Societe Generale Gestion Faces Fine from French Financial Market Regulator-L'Agefi Quotidian


Sunday, 30 Jun 2013 08:00pm EDT 

L'Agefi Quotidien reported that the representative of the Board of the French Financial Market Regulator (l'Autorite des marches financiers-AMF) has requested that Societe Generale's Societe Generale Gestion face a fine of at least EUR 300,000. The regulator accuses the Company of a conflict of interests because Societe Generale Gestion was at the same time the fund manager of a mutual fund and collateral manager for USD 10 million of collateralized debt obligations which were part of the fund. The Company therefore received payment for both of these services. According to the regulator this was contrary to the interests of investors. 

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