The Financial Services Authority (FSA) has fined £1.575m to the London branch of French investment bank, Société Générale for inaccurate filing of financial reports over more than two years.

According to FSA, the bank failed to submit an accurate report to the UK regulators for nearly 80 percent or 18.8 million of transactions made between November 2007 and February 2010.

It is the sixth such fine imposed by FSA for financial reporting failures during the last one year, after record fine of £2.45m levied on Barclays.

Fines on the similar issues are also charged from Credit Suisse, Getco, Instinet and Commerzbank.

FSA fined the bank for not reporting about 320,000 trades; wrong date, time and trade details given of 531000 transactions, and 14.6m had the wrong counterparty code.

Without the discount of 30 percent, given to bank for co-operating with the FSA and for the early settlement of the case, the amount of the fine would have been around £2.3 million.

The bank said, "We have fully co-operated with the FSA throughout their investigation and have taken and continue to take all the necessary steps to ensure that we are able to meet our transaction reporting obligations to the FSA going forward."