SocGen Reaches Agreements With Federal and State Agencies Regarding Economic Sanctions Violations and Bank Secrecy Act Compliance

Skadden represented Société Générale in successfully resolving investigations into its historical compliance with U.S. economic sanctions and other related laws by the United States Attorney’s Office for the Southern District of New York, the New York County District Attorney’s Office, the United States Treasury Department Office of Foreign Assets Control, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the New York State Department of Financial Services. Skadden also represented Société Générale’s New York branch in entering a settlement agreement with the New York State Department of Financial Services regarding Société Générale New York’s Bank Secrecy Act/Anti-Money Laundering compliance program.

Our work was featured in the Am Law Litigation Daily’s “Daily Dicta” column (“For Skadden Client SocGen, a $1.3B Slap on the Wrist,” Nov. 20).