On March 29th, the CFTC approved final regulations governing dual and multiple associations of associated persons ("APs") of swap dealers ("SDs"), major swap participants ("MSPs"), and other registrants. The regulations make clear that each SD, MSP and other registrant with whom an AP is associated is required to supervise the AP and is jointly and severally responsible for the activities of the AP with respect to customers common to it and any other SD, MSP or other registrant. The new rule will become effective 60 days after publication in the Federal Register, which is expected shortly. CFTC Press Release.