SocGen to Pay $1.3 Billion Settlement in U.S. Sanctions Case

The transcript discusses SoC Gen's financial settlement, highlighting their preparation and cooperation with regulators, which led to a favorable outcome compared to BNP Paribas. The importance of cooperation with regulatory bodies like the New York Department of Financial Services and the Justice Department is emphasized, as it influences the settlement terms.

What was the amount SoC Gen set aside for the settlement?

• $1 billion

• $2 billion

• $1.3 billion

• $1.5 billion

Why did SoC Gen receive a better settlement deal compared to BNP Paribas?

• They were a larger bank.

• They had more financial resources.

• They were more cooperative with regulators.

• They had fewer legal issues.

What was a major issue in BNP Paribas's case years ago?

• They settled too quickly.

• They were too cooperative.

• They had no legal representation.

• They were not cooperative early on.

Which regulatory body found SoC Gen to be very helpful and cooperative?

• The Securities and Exchange Commission

• The New York Department of Financial Services

• The European Central Bank

• The Federal Reserve

Which offices were involved in the settlement process with SoC Gen?

• The Federal Bureau of Investigation

• The Department of Homeland Security

• The Manhattan District Attorney's Office

• The Internal Revenue Service