Regulatory Alerts2013-04-08 | 2013-07755Added · Updated
Dual and Multiple Associations of Persons Associated With Swap Dealers, Major Swap Participants and Other Commission Registrants
The Commodity Futures Trading Commission adopted final rules clarifying that each swap dealer, major swap participant, and other registrant must supervise an associated person who holds dual or multiple associations. These regulations impose joint and several liability on each sponsoring entity for the associated person's activities regarding customers common to multiple firms. The rules apply to individuals associated with swap entities and other Commission registrants to ensure adequate supervision and accountability.
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