Sebi blocks Société Générale from trading offshore derivatives in India
MUMBAI & PARIS – The Securities and Exchange Board of India (Sebi) has banned Société Générale (SG), one of France’s largest banks, from trading in offshore derivatives in India.
In an order dated January 15, the regulator accuses the bank of failing to observe ‘know your client’ compliance requirements, failing to provide requested information and being responsible for systems and controls failings. The bank is accused of having repeatedly failed to disclose its correct counterparties for 14
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