Final Governance and Risk-management Rules for Swap Dealers and Major Swap Participants Adopted by CFTC | Practical Law
The CFTC issued final internal business conduct (IBC) rules under Title VII of the Dodd-Frank Act for swap dealers (SDs) and major swap participants (MSPs). Among other things, the rules require appointment of a Title VII chief compliance officer and other compliance duties for SDs and MSPs. The rules also establish certain swap data reporting and recordkeeping requirements and conflict of interest rules.