Jérôme Kerviel His trial began on 8 June 2010. On 2010, he was found guilty and sentenced to five years of prison, with two years suspended, full restitution of the $6.7 billion which was lost, and a permanent ban from working in financial services. Caroline Guillaumin, a spokeswoman for Société Générale, stated that the restitution was "symbolic", and that the bank had no expectation that the sum would be paid. Olivier Metzner, Kerviel's lawyer, described the sentence as "extraordinary" and said that Kerviel would appeal. Kerviel's sentence was suspended until his appeal was completed. On 24 October 2012, a Paris appeals court
Commodity Futures Trading Commission Act of 1974 Commodity Futures Trading Commission Act of 1974 Commodity Futures Trading Commission (CFTC) Act of 1974 (P.L. 93-463) created the Commodity Futures Trading Commission, to replace the U.S. Department of Agriculture’s Commodity Exchange Authority, as the independent federal agency responsible for regulating the futures trading industry. The Act made extensive changes in the basic authority of Commodity Exchange Act of 1936, which itself had made extensive changes in the original Grain Futures Act of 1922. (7 U.S.C. 1 et seq.). The H.R. 13113 legislation was passed by the 93rd U.S. Congressional session and signed into law by the 38th President of