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7 U.S. Code § 6s. Registration and regulation of swap dealers and major swap participants
(a) Registration
(1) Swap dealers
It shall be unlawful for any person to act as a swap dealer unless the person is registered as a swap dealer with the Commission.
(2) Major swap participants
It shall be unlawful for any person to act as a major swap participant unless the person is registered as a major swap participant with the Commission.
(b) Requirements
(1) In general
A person shall register as a swap dealer or major swap participant by filing a registration application with the Commission.
(2) Contents
(A) In general
The application shall be made in such form and manner as prescribed by the Commission, and shall contain such information, as the Commission considers necessary concerning the business in which the applicant is or will be engaged.
(B) Continual reporting
A person that is registered as a swap dealer or major swap participant shall continue to submit to the Commission reports that contain such information pertaining to the business of the person as the Commission may require.
(3) Expiration
Each registration under this section shall expire at such time as the Commission may prescribe by rule or regulation.
(4) Rules
Except as provided in subsections (d) and (e), the Commission may prescribe rules applicable to swap dealers and major swap participants, including rules that limit the activities of swap dealers and major swap participants.
(5) Transition
Rules under this section shall provide for the registration of swap dealers and major swap participants not later than 1 year after July 21, 2010.
(6) Statutory disqualification
Except to the extent otherwise specifically provided by rule, regulation, or order, it shall be unlawful for a swap dealer or a major swap participant to permit any person associated with a swap dealer or a major swap participant who is subject to a statutory disqualification to effect or be involved in effecting swaps on behalf of the swap dealer or major swap participant, if the swap dealer or major swap participant knew, or in the exercise of reasonable care should have known, of the statutory disqualification.
(c) Dual registration
(1) Swap dealer
Any person that is required to be registered as a swap dealer under this section shall register with the Commission regardless of whether the person also is a depository institution or is registered with the Securities and Exchange Commission as a security-based swap dealer.
(2) Major swap participant
Any person that is required to be registered as a major swap participant under this section shall register with the Commission regardless of whether the person also is a depository institution or is registered with the Securities and Exchange Commission as a major security-based swap participant.