2008 Société Générale trading loss a role in the market's overall decline, but characterized that impact as "minimal". 2008 Société Générale trading loss In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. The bank states these positions were fraudulent transactions created by Jérôme Kerviel, a trader with the company. The police stated they lacked evidence to charge him with fraud and charged him with breach of trust and illegally accessing computers. Kerviel states his actions were known
The Bank of New York Mellon Kelly, John A. Luke Jr., Jennifer B. Morgan, Mark A. Nordenberg, Elizabeth E. Robinson, Charles W. Scharf and Samuel C. Scott III. In 2008, BNY Mellon formed a Board of Directors corporate social responsibility committee to set sustainability goals for the company. The company's corporate social responsibility activities include philanthropy, social finance in the communities the bank is located in, and protecting financial markets globally. BNY Mellon's philanthropic activities include financial donations and volunteerism. The company matches employee volunteer hours and donations with financial contributions through its Community Partnership program. Between 2010 and 2012, the company and its employees donated