Christine Lagarde, French finance minister, on Friday ordered an inquiry into Groupe Caisse d’Epargne, France’s third-largest mutual savings bank, after it announced a €600m loss due to a trading scandal. The accusation? Traders had exceeded authorised limits on size and ignored instructions to trade cautiously when using the bank’s own account, Caisse d’Epargne said. More here.
Friday, October 17, 2008
Mutual funds scandal in France
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