Fingerprint, aggregation fears hit swap dealer countdown
October 12 is the deadline for institutions active in US over-the-counter markets to register as swap dealers. But tough aggregation rules – and a requirement to fingerprint top executives – are making it difficult for non-US dealers to comply. Peter Madigan reports
If Deutsche Bank wants to continue trading over-the-counter derivatives with US counterparties, co-chief executive Anshu Jain will first have to press his fingers on to an ink pad and transfer the prints to an 8-R form that will be sent to the National Futures Association (NFA) in the US, for a fee of $85. Afterwards, the form may be given to the Federal Bureau of Investigation (FBI) so it can run a criminal check. Dozens of the bank’s board members, top executives, business line heads and
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