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Relief from Regulation 23.22(b) In respect of Certain Associated Persons
21 December 2012
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The CFTC granted limited no-action relief to swap dealers and major swap participants (together, Swap Entities) from compliance with the prohibition against permitting any statutorily disqualified person to effect swaps on their behalf.
The no-action relief applies to (1) non-U.S. associated persons of a Swap Entity who deal only with non-U.S. swap counterparties and (2) persons employed by a Swap Entity in a clerical or ministerial capacity.
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