Meeting 17 CFR 45.2 Compliance Requirements

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Under the Commodities Exchange ACT (CEA) several industries are now expected to meet 17 CFR 45.2 compliance requirements for the management and archiving of their records. Without a graduate degree in the field or years of experience, it can be overwhelming for many people to even understand the requirements, much less achieve full compliance.

We at Patrina provide dedicated expertise and simple supervisory tools that allow our customers to sleep well knowing that they are compliant with 17 CFR 45.2 and other CFTC regulatory recordkeeping requirements. These records are stored in an unalterable WORM format, as required by the CFTC and other regulating agencies such as the SEC and FINRA.

The straightforward cloud platform will help our customers stay organized and archived with compliance for today and into the future as your needs evolve. Getting a dependable partner to handle archiving and compliance can lower your operational expenses and storage costs as well as helping you avoid fines, penalties, and a stained reputation.

17 CFR 45.2 requires certain records to be archived securely for the life of a contract plus 5 years. This applies to derivatives markets, particularly swap related transaction records. The following derivatives markets participants are regulated by 17 CFR 45.2:

  • Swap Execution Facilities (SEF’s)
  • Designated Contract Markets (DCM’s)
  • Derivative Clearing Organizations (DCO’s)
  • Swap Dealers (SD’s)
  • Major Swap Participants  (MSP’s)

According to 17 CFR 23, required archives include business records such as governance, finances, complaints, and marketing material. Mandatory recordkeeping also includes advertising material, policy & procedures, email correspondence, social media, instant messaging, phone conversations, web content, and all transaction order records. The legal requirement for record keeping can change frequently, meaning compliance can require large time commitments and dedicated personnel. A reliable partner like Patrina can guide your business safely through these requirements with archiving solutions that take the weight from your shoulders.

Patrina has been solving problems for businesses for over 20 years by delivering compliant recordkeeping, archiving, and supervision solutions that are robust and dependable; the latest requirements from the CFTC are no different. Contact us today for a free consultation and learn how our compliant record archiving platform will help you to achieve full compliance.

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