An English translation of the "Mission Green" Report (pdf) concerning the fraud committed by Jérôme KERVIEL (JK), Societe Generale trader on the Turbo warrants market within SG’s equity derivatives division has been published.

In summary the Report concludes that the fraud was perpetrated by a creative, security-savvy trader working for a supervisor
who didn’t know much about trading in an environment without the proper
trading controls.

The purpose of this assignment, approved by the Special Committee of Société Générale’s Board of Directors, was
(i) to describe the mechanism used to perpetrate the fraud in order to verify the accuracy of SG CIB’s calculations concerning the value of the positions and losses,
(ii) to search for JK’s motives and any potential accomplices,
(iii) to identify the malfunctioning of control procedures and responsibility for the late detection of the fraud, and
(iv) to verify that no such fraud exists in other areas of SG CIB.