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Written Agreement with Société Générale
The Federal Reserve Board has announced the execution of a Written Agreement with Société Générale S.A., Paris, France, and Société Générale, New York Branch, New York, New York. The Federal Reserve Bank of New York previously identified deficiencies in the Bank’s U.S. compliance risk management program, including but not limited to the compliance risk assessment process and compliance testing and monitoring function. The Bank is taking steps to address deficiencies relating to its compliance with the Affiliate Transaction Requirements.