The Société Générale/Jérôme Kerviel trial: issues of e-discovery and forensics plus governance, risk and compliance [UPDATED]


Reported by: Darius Champion, special correspondent to Project Counsel and Gregory P. Bufithis, founder and chairman of Project Counsel

23 June 2010 — We have had the good fortune these last two weeks to be following the Société Générale/Jérôme Kerviel trial in Paris at the Chambre Criminelle de la Cour which is the criminal court hearing the case. We have been following the case since last September.

Daniel Bouton, former chairman and chief executive of Société Générale (SocGen), who eventually resigned after criticism of his handling of the trading scandal, testified yesterday. He was the last witness to appear before the "summing up". Bouton lashed out at Kerviel in court and repeated his mantra of Kerviel being an "evil genius." He insisted that none of Kerviel‘s supervisors were aware of his trades. He acknowledged there had been failures in SocGen‘s risk control system but said Kerviel‘s ingenuity would have cracked any mechanism.

The trial will end this Friday. Kerviel risks five years in jail and paying 375,000 euros in fines if found guilty.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Gregory P. Bufithis, Esq., Project Counsel SCS | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.