
CFTC Adopts Rule Amendment to Clarify that Prohibition against Swap Dealers and Major Swap Participants Associating with Persons Who Are Statutorily Disqualified Does Not Apply in the Case of Clerical and Ministerial Employees
The Commodity Futures Trading Commission (CFTC) today announced issuance of an amendment to its Regulation 23.22 to make clear that swap dealers (SDs) and major swap participants (MSPs) are not subject to the prohibition in Section 4s(b)(6) of the Commodity Exchange Act (Act) on associating with a person who is subject to a disqualification from registration under Section 8a(2) or 8a(3) of the Act (Statutory Disqualification) where the person is a clerical or ministerial employee.
More information via press release: http://www.cftc.gov/PressRoom/PressReleases/pr6744-13
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Julia Schieffer
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Julia Schieffer is the Founder & Editor of DerivSource.com, a leading online information source for OTC derivatives and post-trade professionals. A seasoned journalist, Julia specialises in OTC derivatives pre- and post-trade operations, technology (fintech/regtech), risk management and regulation....
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