Commodity Futures Trading Commission (CFTC) Provides Clarification for Swap Dealer (SD) and Major Swap Participant (MSP) Employees Acting in Clerical or Ministerial Capacities

Commodity Futures Trading Commission (CFTC) Provides Clarification for Swap Dealer (SD) and Major Swap Participant (MSP) Employees Acting in Clerical or Ministerial Capacities
Sunday, October 27, 2013

The Commodity Exchange Act and Commodity Futures Trading Commission regulations make it unlawful for a swap dealer (SD) or major swap participant (MSP) to permit a person subject to a statutory disqualification to effect or be involved in effecting swaps on behalf of the SD or MSP. The CFTC amended CFTC Regulation 23.22(a) to clarify that such prohibition does not apply to individuals employed in a clerical or ministerial capacity. 

The adopting release is available here.

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