Regulatory Alerts2012-06-15 | 2012-14654Dual and Multiple Associations of Persons Associated With Swap Dealers, Major Swap Participants and Other Commission Registrants
The Commodity Futures Trading Commission proposes regulations to permit dual and multiple associations of persons with swap dealers, major swap participants, and other registrants. The proposal mandates that each associated entity must supervise the associated person and is jointly and severally responsible for the individual's activities regarding common customers. This rulemaking extends existing supervisory and liability frameworks to address gaps in the regulation of swap entities under the Dodd-Frank Act.
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