Former Société Générale manager fined for insider trading

Mark Sands
01 Aug 2010

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PARIS – Jean-Pierre Mustier, a former manager at Société Générale (SocGen), has been fined €100,000 by France’s Financial Markets Authority (AMF). Mustier was accused of insider trading, specifically the selling of stocks in the bank ahead of losses being announced.

The AMF alleges Mustier had access to information on limitations in the bank’s valuation model that would cause an imminent drop in SocGen’s value. Knowing this, the AMF said, he sold 6,000 shares in August 2007, though this was only

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