Societe Generale has its $495m Euribor rigging fine reduced

Further to our note last week suggesting that Societe Generale's European Union rigging fine may be reduced, reports now confirm that the €445.9m ($495.1m) fine has indeed been reduced by the European Commission following issues raised with the commission's calculation method for the 2013 penalty. 

By Fola Akinnibi (March 14, 2016, 4:32 PM EDT) -- Societe Generale SA had its €445.9 million ($495.1 million) fine for rigging a European benchmark interest rate reduced by the European Commission after raising an issue with the commission's calculation method for the 2013 penalty, the company said in a Monday statement to Law360....

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