F9/ Do these agreements put an end to these investigations? With regard to IBOR and Libyan affairs, the General Society has declared its readiness to conclude a three-year deferred law (“DPA”) agreement. A Dpa is an agreement between a prosecutor and an accused in which a prosecutor postpones the charge for a specified period of time. If the accused meets certain pre-defined conditions, the prosecutor agrees to dismiss the indictment after the deadline has been completed. With regard to the IBOR and Libyan issues, the DOJ will terminate the proceedings after three years if the General Society complies with the provisions of the data protection authority – which includes reporting obligations and internal corrective measures to which the Bank has fully committed. As part of these comparisons, no independent compliance monitors were imposed. As part of these resolutions, the Bank is committed to continuing, beyond the measures already taken, to ensure that its internal controls, policies and procedures are aimed at preventing and detecting violations of anti-corruption, corruption and market manipulation laws. In addition, SGA Societe Generale Acceptance, N.V., a subsidiary of the Societe Generale Group, has agreed to plead guilty in the United States in connection with the Libyan case. Societe Generale SA resolved violations of U.S. trade sanctions on Monday by concluding two deferred lawsuits and paying $1.34 billion in penalties to federal and regional authorities. SocGen said in a statement that it has signed three-year lawsuit agreements with the Southern District Attorney`s Office in New York And the New York County Attorney`s Office. Societe Generale is in talks with U.S.
authorities to reach an agreement to resolve the investigation into the historic compliance of U.S. economic sanctions (OFAC). It is possible, without certain that the upcoming discussions will lead to an agreement in the coming weeks or months. SocGen`s offences were committed primarily with respect to U.S. dollar credit facilities for financing Cuban operations. In particular, SocGen has operated 21 credit facilities to enable Cuban banks, Cuba-controlled companies and foreign companies to have a large flow of money for operations in Cuba. Cuban credit facilities involved a significant amount of U.S. payments approved through U.S.
financial institutions. In total, during this period, SocGen involved in more than 2,500 sanctions against transactions, caused these United States.