The Division of Swap Dealer and Intermediary Oversight (DSIO) issued an Advisory on the applicability of Dodd-Frank Transaction-Level Requirements to swaps between non-U.S. swap dealers (whether an affiliate or not of a U.S. person) and non-U.S. persons if the swap is arranged, negotiated, or executed by personnel or agents of the non-U.S. swap dealer located in the U.S.