Source: https://www.law.cornell.edu/cfr/text/17/37.1501
Timestamp: 2020-07-09 23:10:02
Document Index: 710778306

Matched Legal Cases: ['§ 37', 'art 37', '§ 37', '§ 37', '§ 37', '§ 37', '§ 1', 'art 45']

17 CFR § 37.1501 - Chief compliance officer. | CFR | US Law | LII / Legal Information Institute
Part 37. SWAP EXECUTION FACILITIES
Subpart P. Designation of Chief Compliance Officer
Section 37.1501. Chief compliance officer.
17 CFR § 37.1501 - Chief compliance officer.
(b) Designation and qualifications of chief compliance officer -
(1) Chief compliance officer required. Each swap execution facility shall establish the position of chief compliance officer and designate an individual to serve in that capacity.
(c) Appointment, supervision, and removal of chief compliance office -
(1) Appointment and compensation of chief compliance officer.
(i) A swap execution facility's chief compliance officer shall be appointed by its board of directors or senior officer. A swap execution facility shall notify the Commission within two business days of appointing any new chief compliance officer, whether interim or permanent.
(3) Removal of chief compliance officer.
(i) Removal of a swap execution facility's chief compliance officer shall require the approval of a majority of the swap execution facility's board of directors. If the swap execution facility does not have a board of directors, then the chief compliance officer may be removed by the senior officer of the swap execution facility.
(ii) Conflicts between business considerations and the requirement that the swap execution facility provide fair, open, and impartial access as set forth in § 37.202; and;
(9) Supervising the effectiveness and sufficiency of any regulatory services provided to the swap execution facility by a regulatory service provider in accordance with § 37.204.
(f) Submission of annual compliance report.
(1) Prior to submission to the Commission, the chief compliance officer shall provide the annual compliance report to the board of directors of the swap execution facility for its review. If the swap execution facility does not have a board of directors, then the annual compliance report shall be provided to the senior officer for his or her review. Members of the board of directors and the senior officer shall not require the chief compliance officer to make any changes to the report. Submission of the report to the board of directors or the senior officer, and any subsequent discussion of the report, shall be recorded in board minutes or a similar written record, as evidence of compliance with this requirement.
(2) The annual compliance report shall be submitted electronically to the Commission not later than 60 calendar days after the end of the swap execution facility's fiscal year, concurrently with the filing of the fourth fiscal quarter financial report pursuant to § 37.1306.
(1) The swap execution facility shall maintain:
(2) The swap execution facility shall maintain records in accordance with § 1.31 and part 45 of this chapter.