Societe Generale Is Fined For Failures in Trading Scandal

PARIS -- The French Banking Commission Friday said it fined Societe Generale €4 million ($6.3 million) for failures in its internal procedures relating to the €4.9 billion loss linked to an alleged rogue trader fraud.

In a statement Friday, the banking commission said serious failures took place at the French bank in the follow-up and control at the first ...