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External Meetings: Pension Plans and Plan Sponsors

9/17/2010 1:00 PM
II. Definitions

III. Business Conduct Standards w/ Counterparties

IX. Governance & Possible Limits

XI. End-user Exception

XVI. Swap Data Repositories Registration

XVII. Data Recordkeeping

CFTC Staff:
Mark Fajfar

Stephen Kane

Gregory Kuserk

Susan Nathan

Irina Leonova

Rose Troia

Dave Aron

Julian Hammar

Terry Arbit

Phyllis Cela

Nela Richardson

Katie Driscoll
Lynn Dudley (American Benefits Council)

Henry Eickelberg (General Dynamics)

James Harshaw (GM Asset Management)

Bella Sanevich (NISA Investment Advisors LLC)

Judy Schub (CIEBA)

Kent Mason (Davis & Harman LLP)

Mark Young (Skadden)

Maureen Donley (Skadden)

Rachel Reicher (Skadden)

Mike Keehlwetter (SEC)

Cindy Oh (SEC)

Christine Sibille (SEC)

Josh Kans (SEC)
American Benefits Council

General Dynamics

GM Asset Management

NISA Investment Advisors LLC


Davis & Harman LLP

  • The meeting covered the following topics.  The definition of Major Swap Participant, the scope of the pension plan exclusion from the substantial position test in that definition, and how the definition relates to systemic risk.  The reporting of swaps to data repositories and entities involved in the clearing process, and how the terms and conditions of such entities may affect swap terms.  The points covered in a letter submitted by the American Benefits Council on September 8, 2010 on independent representatives for special entities.  How the terms of ISDA and other private group protocols affect the terms of swap transactions.  How collateral will be handled by swap clearinghouses.