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Poor controls and management supervision to blame at SG

PARIS - Operational risk practitioners are still picking over the weakness in Societe Generale's (SG) control functions that allowed Jerome Kerviel to lose EUR4.9 billion, and must have been eagerly ploughing through two investigative reports issued in late May. For SG these reports will make for uncomfortable reading.

PricewaterhouseCoopers (PwC) conducted one investigation, with the other report

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