Code of Federal Regulations Title 17. Commodity and Securities Exchanges § 17.23.410 Prohibition on fraud, manipulation, and other abusive practices

(1) To employ any device, scheme, or artifice to defraud any Special Entity or prospective customer who is a Special Entity;

(2) To engage in any transaction, practice, or course of business that operates as a fraud or deceit on any Special Entity or prospective customer who is a Special Entity;  or

(3) To engage in any act, practice, or course of business that is fraudulent, deceptive, or manipulative.

(1) Did not act intentionally or recklessly in connection with such alleged violation;  and

(2) Complied in good faith with written policies and procedures reasonably designed to meet the particular requirement that is the basis for the alleged violation.

(1) It shall be unlawful for any swap dealer or major swap participant to:

(2) Notwithstanding paragraph (c)(1) of this section, a swap dealer or major swap participant may disclose or use material confidential information provided by or on behalf of a counterparty to the swap dealer or major swap participant if such disclosure or use is authorized in writing by the counterparty, or is necessary:

(3) Each swap dealer or major swap participant shall implement written policies and procedures reasonably designed to protect material confidential information provided by or on behalf of a counterparty from disclosure and use in violation of this section by any person acting for or on behalf of the swap dealer or major swap participant.