AMF fines Société Générale €2.5 million for internal control failings


Two asset management divisions of Société Générale (SG) have been fined a total of €2.5 million by France's financial markets regulator, the Autorité des marchés financiers (AMF), for internal risk control failures and inadequate reaction to the financial crisis of 2007–08.

Société Générale Asset Management Alternative Investments (SGAM AI) was fined €1.5 million for bypassing investment fund regulations with "the deliberate intention to conceal risks to which investors were exposed", an act the