Registration Deadlines Clarified For Swap Dealers And Major Swap Participants; Update On Deferral Of Certain Compliance Dates

6 September 2012
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  • The CFTC has deferred the date by which Swap Dealers and Major Swap Participants must commence compliance with certain external business conduct rules, from October 15, 2012 to January 1, 2013. 
  • The CFTC also clarifies that the registration deadlines for the first group of entities coming into the definitions of "Swap Dealer" and "Major Swap Participant" are December 31, 2012 and February 28, 2013, respectively. 
  •  Compliance with the various regulations applicable to Swap Dealers and Major Swap Participants only commences when an entity submits its application to register as a Swap Dealer or Major Swap Participant.