March 29, 2013

CFTC Approves Final Regulations Governing Dual and Multiple Associations of Associated Persons of Swap Dealers and Major Swap Participants

Washington, DC — The Commodity Futures Trading Commission (Commission) has approved final regulations governing dual and multiple associations of associated persons (APs) of swap dealers (SDs), major swap participants (MSPs) and other Commission registrants. The regulations make clear that each SD, MSP and other Commission registrant with whom an AP is associated is required to supervise the AP and is jointly and severally responsible for the activities of the AP with respect to customers common to it and any other SD, MSP or other Commission registrant.

The CFTC voted 5 to 0 via seriatim to approve the final regulations, which will become effective 60 days after publication in the Federal Register.

Last Updated: March 29, 2013