CFTC Adopts Pay-to-Play Rule for Swap Dealers

The Rule (i) bans a Swap Dealer from engaging in swaps business with a state or local government entity for two years if the Swap Dealer or certain of its employees make particular political contributions to specific candidates associated with the government entity; (ii) limits the ability of a Swap Dealer and its covered employees to fundraise for state or local candidates, officeholders, and political parties; and (iii) restricts the ability of a Swap Dealer to solicit swaps business with state or local governments. 

Please see the attached article for further details.