Affected EBC rules: May 1, 2013.

Swap trading relationship documentation and portfolio compression rules: July 1, 2013.

Records of complaints. CFTC Regulation 23.201(b)(3)(ii): Requirement to retain records of complaints received involving partners, members, employees and agents (including any disposition), and proof that swap counterparties have received information on where to direct complaints.

Compliance procedures. CFTC Regulation 23.402(a): Requirement to implement policies and procedures to ensure compliance with Title VII of the Dodd-Frank Act and prevent evasion of the Dodd-Frank Act generally.

Know-your-counterparty rules. CFTC Regulation 23.402(b): Know-your-counterparty rules (see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Know-your-counterparty Rules).

Counterparty name. CFTC Regulation 23.402(c): Requirement to obtain true swap counterparty name and owner for all swaps of the SD or MSP.

Reliance on representations. CFTC Regulation 23.402(d): An SD or MSP may rely on the written representations of a counterparty to satisfy its due diligence requirements under the final EBC rules, unless it has information that would cause a reasonable person to question the accuracy of the representation (see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Final EBC Rules and Safe Harbors).

Manner of disclosure. CFTC Regulation 23.402(e): An SD or MSP may provide the information required under the final EBC rules by any reliable means agreed to in writing by the counterparty.

Disclosure in trading documentation. CFTC Regulation 23.402(f): Material information required by the final EBC rules may be provided in swap trading relationship documentation.

Record retention. CFTC Regulation 23.402(g): Record retention requirements for SDs and MSPs in connection with their compliance with the final EBC rules.

Confidential treatment of counterparty information. CFTC Regulation 23.410(c): Confidential treatment of swap counterparty information rules for all SDs and MSPs.

Verification of counterparty eligibility. CFTC Regulation 23.430: Requirement to verify swap counterparty eligibility as an eligible contract participant (ECP) or special entity, including safe harbor based on written swap counterparty representation (for details, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Verification of Counterparty Eligibility and Swaps with Special Entities).

Disclosure of material information. CFTC Regulation 23.431(a): Disclosure of material information related to entering into the swap (for details on these rules, including compliance through use of the ISDA Dodd-Frank Protocol, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Swap Disclosure Documentation Requirements under Final EBC Rules for SDs and MSPs and Practice Note, The ISDA Dodd-frank Protocol: ISDA Swap Disclosure Documentation for Compliance with Final EBC Rules for SDs and MSPs).

Scenario analysis. CFTC Regulation 23.431(b): Obligation to provide non-SD/non-MSP swap counterparties with detailed scenario analysis concerning the swap; CFTC Regulation 23.431(c): exemption from obligation to provide scenario analysis for swaps executed on a registered exchange, either a designated contract market (DCM) or swap execution facility (SEF) (see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Scenario Analysis).

Clearing disclosures. CFTC Regulation 23.432: SDs and MSPs must inform their non-SD/non-MSP swap counterparties:

For more information, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Optional Counterparty Clearing.

Institutional suitability rules. CFTC Regulation 23.434(a)(2), (b) and (c) (for details, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Institutional Suitability).

Acting as an advisor to a special entity. CFTC Regulation 23.440: Acting as an advisor to a special entity (which is a US government entity) with respect to swaps entered into between the parties, and related safe harbors (for detailed information, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Swaps with Special Entities).

Requirements for swaps entered into with special entities. CFTC Regulation 23.450: Additional rules on swaps with special entities (for detailed information, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Swaps with Special Entities).

End-user exception documentation. CFTC Regulation 23.505: Though technically not part of the EBC rules, extensive documentation must be furnished to SDs and MSPs by non-financial entity swap counterparties claiming exemption from mandatory clearing under Title VII of the Dodd-Frank Act. For more detail, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank Internal Business Conduct (IBC) Rules on Documentation, Confirmation, Reconciliation and Compression: End-user Exception Documentation.

Obligation to provide daily mark. The obligation of an SD or MSP to provide its non-SD/non-MSP counterparties with a daily mark under CFTC Regulation 23.431(d), which is optional for cleared swaps and mandatory for uncleared swaps. SDs and MSPs must provide the mid-market mark of the swap, which excludes amounts for profit, credit reserve, hedging, funding, liquidity or any other costs or adjustments. The daily mark must be provided to the counterparty during the term of the swap as of the close of business or such other time as the parties agree in writing; methodology must be disclosed for uncleared swaps. Note that this rule is already effective. For more detail on this rule, see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Obligation to Provide Daily Mark.

Swap confirmation and other swap trading relationship documentation rules. Final rules on swap confirmation and other swap trading relationship documentation under CFTC Regulation 23.501, discussed in detail in Practice Note, Swap Dealers and MSPs: Final Dodd-Frank Internal Business Conduct (IBC) Rules on Documentation, Confirmation, Reconciliation and Compression: Documentation of Trading Relationships for Swap Dealers and Major Swap Participants.

Institutional suitability due diligence. Compliance with the requirement to undertake reasonable diligence to understand the potential risks and rewards associated with the recommended swap or trading strategy involving a swap (CFTC Regulation 23.434(a)(1)) has not been delayed even though compliance with the rest of the institutional suitability rules has been delayed (see Practice Note, Swap Dealers and MSPs: Final Dodd-Frank External Business Conduct (EBC) Rules: Institutional Suitability).

Portfolio reconciliation. While portfolio compression rules under CFTC Regulation 23.502 are delayed, portfolio reconciliation rules under CFTC Regulation 23.502 are not.