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

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.

What was one of the major problems with the BNP Paribas case years ago?

What message did the Justice Department's actions send to other banks regarding cooperation?