The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued Advisory No. 13-79 to provide guidance to commodity trading advisors (CTAs) on new obligations relating to swaps. The DSIO presented the advisory in question-and-answer format covering three main areas: (1) Commodity Exchange Act provisions and CFTC regulations that are generally applicable to CTA activities; (2) a CTA’s obligations with respect to swap risk disclosures; and (3) the requirements relevant to CTAs advising pension plans, governmental bodies and other “special entities” with respect to swap transactions.
CFTC Advisory No. 13-79 is available here.