Bloomberg News

French Bank Regulator Fines Unidentified Company 800,000 Euros

January 03, 2012

Jan. 3 (Bloomberg) -- The French banking regulator fined an unidentified company 800,000 euros for insufficient internal controls on trading activities, it said in an e-mailed statement today.

The regulator didn’t name the company to avoid possible “disproportionate” reaction from its trading partners and the market, given the current climate of financial instability, it said in the statement.

No “notable” losses were sustained as a result of the insufficient controls, the regulator said.

To contact the editor responsible for this story: Steve Rhinds at srhinds@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus