What is a swap dealer associated person?

An associated person (AP) is an individual who solicits orders, customers or customer funds (or who supervises persons so engaged) on behalf of a futures commission merchant (FCM), retail foreign exchange dealer (RFED), introducing broker (IB), commodity trading advisor (CTA) or commodity pool operator (CPO).

Is a swap dealer a US person?

With regard to swaps between two non-registrants where one (or both) of the counterparties to the swap is a U.S. person (including an affiliate of a non-U.S. person), the parties to the swap generally would be expected to comply with the Non-Registrant Requirements.

What does an AP of a swap dealer do?

APs are natural persons who are partners, officers, employees and agents who solicit or accept swaps for SDs, MSPs and other CFTC registrants or supervise another in doing so.

Is US bank a swap dealer?

U.S. Bank National Association (“U.S. Bank”) is a provisionally registered swap dealer located in Minneapolis, Minnesota.

Why are swap dealers provisionally registered?

What does it mean for a swap dealer or major swap participant to be “provisionally registered”? It means that the National Futures Association has received a Form 7-R from the SD or MSP.

What is associated person?

The term “Associated Person” means: (1) a natural person registered under FINRA rules; or (2) a sole proprietor, or any partner, officer, director, branch manager of the Applicant, or any person occupying a similar status or performing similar functions; (3) any company, government or political subdivision or agency or …

What does a swap dealer do?

A swap dealer is an individual or entity that serves as a swaps broker, makes markets in swaps, or enters into swaps contracts with counterparties.

What is a security based swap dealer?

[8] Moreover, security-based swap dealers are subject to a comprehensive regulatory framework that includes capital and risk management requirements, as well as to ongoing supervision by the Commission.