Commodity Futures Trading Commission: Business Conduct Standards for Swap Dealers and Major Swap Participants With Counterparties
GAO-12-502R, Mar 5, 2012
GAO reviewed the Commodity Futures Trading Commission's (Commission) new rule on business conduct standards for swap dealers and major swap participants with counterparties. GAO found that (1) the final rule implements section 4s(h) of the Commodity Exchange Act pursuant to section 731 of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. These rules prescribe external business conduct standards for swap dealers and major swap participants; and (2) the Commission complied with the applicable requirements in promulgating the rule.