SocGen to Pay $1.3 Billion Settlement in U.S. Sanctions Case

SocGen to Pay $1.3 Billion Settlement in U.S. Sanctions Case

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The transcript discusses SoC Gen's financial settlement, highlighting their preparation and cooperation with regulators, which led to a favorable outcome compared to BNP Paribas. The importance of cooperation with regulatory bodies like the New York Department of Financial Services and the Justice Department is emphasized, as it influences the settlement terms.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the amount SoC Gen set aside for the settlement?

$1 billion

$2 billion

$1.3 billion

$1.5 billion

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why did SoC Gen receive a better settlement deal compared to BNP Paribas?

They were a larger bank.

They had more financial resources.

They were more cooperative with regulators.

They had fewer legal issues.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was a major issue in BNP Paribas's case years ago?

They settled too quickly.

They were too cooperative.

They had no legal representation.

They were not cooperative early on.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which regulatory body found SoC Gen to be very helpful and cooperative?

The Securities and Exchange Commission

The New York Department of Financial Services

The European Central Bank

The Federal Reserve

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which offices were involved in the settlement process with SoC Gen?

The Federal Bureau of Investigation

The Department of Homeland Security

The Manhattan District Attorney's Office

The Internal Revenue Service