Compliance

In accordance with regulation No. 97-02 of the French Banking and Financial Regulations Committee (CRBF), Société Générale Group has reinforced its internal control structures, with a distinction made between permanent and periodic control structures. The subsequent coordination between periodic and permanent controls is handled by a Co-Chief Executive Officer who is assisted by an Internal Control Coordination Committee which meets every quarter.
The Corporate Secretary of Société Générale is the head of compliance for the Group (RCOG). He supervises all compliance structures and procedures with the help of a Group Compliance Committee (CCG) which he chairs and which meets every month.*
This pyramid structure is reproduced in each division, business line or subsidiary under the supervision of named compliance managers (RCOs). The RCOs for the different divisions sit on the Group Compliance Committee alongside the managers of the functional departments concerned (heads of the Compliance, Legal Affairs and General Inspection departments).
RCOs are responsible for the identification and prevention of a risk of non-compliance, the validation of new products, the analysis and reporting of any anomalies as well as the implementation of corrective action, staff training and the development of a Group-wide culture of compliance
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* Verified by Ernst & Young (see Statutory Audtiors'Report )