Published on 14/12/2020

Termination of proceedings notice by the financial prosecutor of the french republic in the LIA case

Societe Generale has taken note of the termination of proceedings notice issued today by the Financial Prosecutor of the French Republic (the Procureur de la République Financier, or PRF) in connection with the case referred to as the "LIA" case.

In June 2018, Societe Generale entered into a Public Interest Judicial Agreement (a French-law deferred prosecution agreement) with the PRF, which suspended the proceedings brought against Societe Generale and its subsidiary SGA in respect of certain transactions carried out involving Libyan counterparties. Under the terms of this agreement, the Bank committed to a two-year evaluation by the French Anti-Corruption Agency (AFA) of the quality and effectiveness of the anti-corruption measures it has implemented.

The PRF formally acknowledged that Societe Generale had fulfilled its obligations under the Public Interest Judicial Agreement and consequently notified it of the termination of the public proceedings.

In recent years, Societe Generale has put in place very significant means and resources to strengthen its compliance and control system aimed at preventing acts of corruption or influence peddling from being committed, in order to meet the banking sector's most demanding compliance and ethical standards. Fighting corruption is an absolute priority for the Societe Generale Group, which will continue to devote all the necessary human, technical and financial resources to achieve this.


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