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Latest Jérôme Kerviel Stories

2008-07-05 18:00:08

The French Banking Commission on Friday fined the bank Societe Generale euro 4 million for serious breaches in internal controls revealed by the bank's euro 4.9 billion trading loss. The commission also reprimanded Societe Generale, a leading French bank, for poor supervision that led to the unauthorized trades by Jerome Kerviel, the former trader blamed for the losses. The commission said the monitoring staff at Societe Generale was insufficiently sensitive to fraud issues, and that the...


Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'