French multinational bank Société Générale issued a statement last week that it had “entered into a phase of more active discussions” with US authorities with a view to reaching a resolution in the coming weeks over allegations that it had processed US dollar transactions for persons subject to US sanctions. In consequence, SocGen has allocated approximately €1.1 billion to the matter, and expects the US penalty to be “almost entirely covered” by that amount.
Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...See profile for Maya Lester QC >