WASHINGTON — The New York branch of Paris-based bank Societe Generale has agreed to take steps to address deficiencies in its compliance with certain anti-money laundering rules, the Federal Reserve said Tuesday in a written agreement with the firm.

Under the agreement, the Federal Reserve will review the effectiveness of Societe Generale's corporate governance, control infrastructure and business line accountability with respect to anti-money laundering and Bank Secrecy Act rules.

"The purposes of the management review shall be to enhance" Societe Generale's oversight of its New York branch "to ensure the adequate staffing by qualified and trained personnel that is required for an effective control environment," the agreement said.

The New York branch of Societe Generale will need to submit a written report to the Federal Reserve to include the findings of the management review, among other things. Under the pact, the bank also will need to implement measures to ensure appropriate oversight of its Bank Secrecy Act compliance program.

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