Société Générale

Société Générale has been subject to multiple, significant enforcement actions for financial misconduct across its global operations. In 2018, the bank reached a global settlement with U.S. and French authorities, agreeing to pay approximately $1.3 billion in total penalties. This included a $275 million fine to the U.S. Department of Justice for manipulating the LIBOR benchmark interest rate and a separate $475 million penalty to the Commodity Futures Trading Commission for related misconduct. The Federal Reserve Board also fined the firm $81.3 million for unsafe and unsound practices.

The bank’s pattern of misconduct extends to defrauding investors. In 2017, Société Générale agreed to pay a $50 million civil penalty to settle U.S. claims that it misled investors in the sale of residential mortgage-backed securities. More recently, in September 2025, its Australian securities subsidiary was fined A$3.88 million by the Australian Securities and Investments Commission for failures in its market gatekeeper duties. This history of regulatory violations demonstrates a systemic failure to maintain adequate controls across different business lines and jurisdictions.