Margot Laporte discusses SocGen LIBOR & Libya fines with International Securities Services

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June 5, 2018

Earlier this week, Société Générale  agreed to pay more than $1.3bn to U.S. and French authorities to settle charges relating to a bribery scheme in Libya and manipulation of the LIBOR benchmark interest rate.  The coordinated resolution between the U.S. Department of Justice and the Parquet National Financier —the first coordinated resolution between the DOJ and French authorities in a foreign bribery case—represents a new era in cross-border enforcement and cooperation between U.S. and French authorities.  

In this article from International Securities Services, RK&O attorney Margot Laporte noted that the settlement "serves as a reminder to companies conducting cross-border business that U.S. and foreign regulators are no longer merely sharing evidence with one another, but increasingly are bringing coordinated enforcement actions through which they share in the criminal penalties." 

Societe Generale Agrees To Pay $860 Million Libor Fine - International Securities Services