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Dodd Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA), signed into U.S. law in July 2010, is intended to promote financial stability, transparency and market integrity within the financial system.

Title VII of this reform mandates regulation of the over-the-counter swaps market, which was perceived to have contributed to the financial crisis.

In this regard, certain standardized swaps are required to be traded on regulated exchanges or swap execution facilities and cleared at derivatives clearing organizations. Swaps regulated under DFA are also subject to reporting requirements, including real-time reporting. Real-time reporting information is publicly available and provides price transparency in the swap markets.

Societe Generale is regulated by the Commodity Futures Trading Commission (“CFTC”) and will be regulated by the Securities Exchange Commission (“SEC”), in relation to DFA Title VII.

Societe Generale Paris was registered as Swap Dealer with the CFTC on 31st of December 2012 and expects to register with the SEC as a Security-Based Swap Dealer.