Op risk data: SEC issues first fine under cyber risk rule

SocGen provisions for sanctions violations; has the SMR prompted more bank CEO resignations? Data by ORX News

In the largest publicly declared operational risk loss from September, Societe Generale provisioned €1.1 billion ($1.28 billion) to cover penalties it expects to receive from the US authorities over sanctions violations. SocGen is being investigated for alleged breaches involving Iran, Cuba and Sudan in 2014.

The investigation involved the Department of Justice and the Treasury Department, as well as federal and New York state attorneys, the Federal Reserve and the New York Department of Financ