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Tuesday, April 3, 2012

CFTC Final Rule: Swap Dealers & Major Swap Participants

The CFTC has published a final rule implementing provisions of Title VII of the Dodd-Frank Act, which will set requirements for reporting and recordkeeping for swap dealers and major swap participants in the Federal Register.

The rule establishes certain duties of swap dealers and major swap participants registered with the CFTC, in regards to: risk management procedures; monitoring of trading to prevent violations of applicable position limits; diligent supervision; business continuity and disaster recovery; disclosure and the ability of regulators to obtain general information; and antitrust considerations.

In addition, the rule establishes conflicts-of-interest requirements with regard to firewalls between research and trading and between clearing and trading.

The rule will be effective June 4th, 2012.

Read more.

1 comment:

Syeda Saba Zehra said...
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