June 15, 2020 / 2:28 AM / 2 months ago

BRIEF-Australia's ASIC Says Put Additional Conditions On AFS Licence Of Societe Generale Securities Australia

June 15 (Reuters) - Australia’s ASIC :

* PUT ADDITIONAL CONDITIONS ON AFS LICENCE OF SOCIETE GENERALE SECURITIES AUSTRALIA TO ENSURE COMPLIANCE WITH CLIENT MONEY REGULATION

* SGSAPL MUST APPOINT INDEPENDENT EXPERT TO ASSESS & TEST CONTROLS, SYSTEMS & PROCESSES TO COMPLY WITH CLIENT MONEY REQUIREMENTS

* NEED FOR ADDITIONAL CONDITIONS AFTER SGSAPL REPORTED IT DEPOSITED CLIENT MONEY INTO UNAUTHORISED BANK ACCOUNTS BETWEEN DEC 2014 & SEPT 2018

* ADDITIONAL CONDITIONS REQUIRE SGSAPL TO PROVIDE ASIC WITH ATTESTATIONS FROM QUALIFIED SGSAPL SENIOR EXECUTIVE

* ADDITIONAL CONDITIONS REQUIRE SGSAPL BOARD MEMBER CONFIRM ALL REMEDIAL ACTIONS RECOMMENDED BY INDEPENDENT EXPERT ARE ADOPTED & IMPLEMENTED Source text: [bit.ly/37yK0h0] Further company coverage:

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