Societe Generale rogue trader Jerome Kerviel sees fine slashed by French court

French judges have said Jerome Kerviel must pay Societe Generale €1m, a fraction of the initial €4.9bn trading loss he caused the French bank more than eight years ago.

Societe Generale’s “multiple faults” mean the bank “had a major and decisive role” in allowing the incident, one of the most famous cases of rogue trading in financial history, according to a three-judge panel in Versailles.