The participants in the call discussed the scope of U.S. bank regulators’ retail forex rules’ coverage of the U.S. operations of foreign banks in the context of CEA section 2(c)(2)(E).

Participant discussed the proposed rules for DCM Core Principle 9 (Execution of Transactions).

The external attendees further discussed their views on the proposed External Business Conduct Standards rules expressed in the SIFMA/ISDA February 17 comment letter.

The external attendees further discussed the views expressed in the February 18 comment letter.  The external attendees also discussed industry practices with respect to the following: (1) conflicts of interest disclosures (2) scenario analyses; (3) daily mark; (4) Special Entity definition and collective investment vehicles; (5) timing of certain disclosures such as term sheets; (6) recommendations; (7) policies and procedures for selecting an investment manager; (8) “independence” of Special Entity  representative; and (9) front-running prohibition.

Participants discussed the treament of farmer cooperatives under the Dodd-Frank rules.

Participants discussed proposed amendments to Rule 4.5.

Participants discuss position limits and DMO Core Principal 9.