French watchdog fines SocGen for poor auditing
Paris - AFP
France\'s financial market watchdog said it was fining Societe Generale bank 500,000 euros ($663,000) for poor auditing of its asset management operations. The fine, announced by regulator AMF on its website late on Monday, is in addition to 280,000 euros which Societe Generale was to pay regarding the way it sold investment fund contracts. In its latest ruling, the market authority criticised the bank for \"shortcomings\" in its auditing procedures, saying that it had not allocated adequate human and computer resources. In a statement sent to AFP on Tuesday, the bank said it had taken note of the decision and reserved the right to appeal it. It added that it has had no complaints from asset management clients about its depositary control services.
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Beirut - NNA
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Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Paris - Emiratesvoice
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Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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