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Société Générale Société anonyme (GLE.PA)
- Reuters
SocGen Hong Kong traders left bank after unauthorised bets uncovered, source says
Two Hong Kong-based traders at Societe Generale left the French bank late last year after the group uncovered a string of unauthorised bets made through derivatives, a source close to the matter said. The bets, made via options contracts tied to Indian stock-market indices, did not exceed authorised trading amounts and led to no losses, the source said, but the traders were not authorised to carry them out. In the event of a severe market downturn, the bets could have cost SocGen significant losses, the source said.
- Bloomberg
SocGen Traders in Asia Exit After Options Bets Go Undetected
(Bloomberg) -- A pair of traders in Hong Kong have left Societe Generale SA after the French bank discovered a batch of risky bets that went undetected by the firm’s risk-management systems, according to people familiar with the matter.Most Read from BloombergHSBC CEO Quinn Unexpectedly Steps Down After Almost 5 YearsTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterBinance and CZ’s Fortunes Are Set to Grow, Jail or no JailC
- Yahoo Finance UK
Stocks to watch this week: Amazon, Apple, Anglo American and Novo Nordisk
Earnings preview of key companies reporting next week and what to look out for.
