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Final Rules on Swap Dealer Trading Documentation and Other Requirements Issued by CFTC
Practical Law Legal Update 3-521-1581 (Approx. 2 pages)
Final Rules on Swap Dealer Trading Documentation and Other Requirements Issued by CFTC
by PLC Finance
| Published on 13 Sep 2012 • USA (National/Federal) |
The CFTC published final rules in the Federal Register governing acknowledgements, transaction confirmations, recordkeeping, portfolio reconciliation, portfolio compression and trading relationship documentation for swap dealers and major swap participants.
On September 11, 2012, the CFTC published final rules in the Federal Register on swap documentation and other procedures for swap dealers (SDs) and major swap participants (MSPs). The final rules address:
- Acknowledgements.
- Recordkeeping.
- Portfolio reconciliation (for an explanation of portfolio reconciliation, see Relevant Definitions).
- Swap portfolio compression (for an explanation of portfolio compression, see Relevant Definitions).
- Trading relationship documentation.
- The compliance schedule for these rules.
For more detailed information on these rules, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank Internal Business Conduct (IBC) Rules.