Notices to Members
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | Show fewer yearsNotice I-07-20
April 25, 2007
CFTC and FinCEN Issue Guidance on CIP Requirements with Respect to Give-up Arrangements
On April 20, 2007, the CFTC and FinCEN issued joint guidance on the application of the customer identification program (CIP) requirements to give-up arrangements in the futures industry. The guidance clarifies that in a give-up arrangement, the clearing FCM establishes the formal relationship with the customer for purposes of the CIP requirements. As a result, the clearing FCM, and not an FCM acting solely as an executing broker in a give-up arrangement, is required to apply their CIP to the customer. The full text of this guidance can be found at https://www.fincen.gov/sites/default/files/shared/cftc_fincen_guidance.pdf [hyperlink updated 10/22/21].