Clifford Chance
CFTC Issues Final Rules on Business Conduct Standards for Swap Dealers and Major Swap Participants
31 January 2012
On January 11, 2012, the Commodity Futures Trading Commission ("CFTC") adopted business conduct rules governing duties of swap dealers ("SDs") and major swap participants ("MSPs") to their counterparties. The rules, which address the so called "external business conduct" of such dealers and major swap participants (as distinguished from their supervisory, record-keeping and similar "internal business conduct" regulations), were proposed by the CFTC in December, 2010 and will be codified as Subpart H of Title 17, Part 23, of the U.S. Code of Federal Regulations.
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CFTC Issues Final Rules on Business Conduct Standards for Swap Dealers and Major Swap Participants
