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External Meetings: Meeting with SIFMA

5/26/2011 11:00 AM
III. Business Conduct Standards w/ Counterparties

CFTC Staff:
Phyllis Cela

Tim Karpoff

Katie Driscoll

Erik Remmler

Vivek Jain

Michael Solinsky

Todd Prono

Brian Conlon

Ted Kneller
Lourdes Gonzalez (SEC)

Cindy Oh (SEC)

Ed Rosen (Cleary Gottlieb)

Brick Susko (Cleary Gottlieb)

David Taub (McDermott Will & Emery)

John Vitha (Goldman Sachs)

Alan Wilmit (Goldman Sachs)

Richard Ostrander (Morgan Stanley)

Kyle Brandon (SIFMA)

Anthony Cicia (Morgan Stanley)

Michael Decker (SIFMA)

Craig Griffith (SIFMA)

Angie Karna (Nomura)

Colin Lloyd (Cleary Gottlieb)

Marcelo Riffaud (Deutsche Bank)

Jeremy Simon (SIFMA)
Securities Industry and Financial Markets Association (“SIFMA”)

Goldman Sachs

Morgan Stanley


Deutsche Bank
  • The external attendees discussed their views about the proposed External Business Conduct Standards rules as expressed in the SIFMA/ISDA February 17 comment letter and made some drafting suggestions. ~The external attendees also raised issues regarding the July 2011 effective date of the Dodd-Frank Act amendments to the Commodity Exchange Act, especially with respect to the Business Conduct Standards provisions in §4s(h).  The external attendees commented that Commission guidance or relief may be appropriate prior to the effective date to avoid disruptions to ERISA pension plans and other Special Entities’ access to the swaps markets.