Dodd-Frank risk disclosures
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"), prior to entering into a swap transaction, a Swap Dealer must provide several disclosures to a counter-party who is not a Swap Dealer, Major Swap Participant, Security Based Swap Dealer or Major Security Based Swap Participant. Under the requirements of Rule 23.431 of the Commodity Futures Trading Commission ("CFTC") under the Business Conduct Standards for Swap Dealers and Major Swap Participants, 77 Fed. Reg. 9734, a Swap Dealer must disclose the material risks of the particular swap, which may include market, credit, liquidity, foreign currency, legal, operational, and any other applicable risks. In addition, a Swap Dealer must disclose the material characteristics of the particular swap, including the Material Economic Terms ("METs") of the swap, the terms relating to the operation of the swap and the rights and obligations of the parties during the terms of the swap.
The Dodd-Frank Disclosures for the various counter-parties with which Russell Investments executes OTC trades on your behalf are available on each of the websites for the applicable counter-party and are accessible to all clients. The following is a list of the websites, which will be updated as required with various Risk Disclosures and static METs.
Please bookmark these websites for future reference.
User ID: citidisclosures
Commonwealth Bank of Australia
User ID: makauhan
National Australia Bank
ISDA General Disclosure Statement (PDF)
Disclosure Annex for Foreign Exchange Transactions (PDF)
Royal Bank of Canada
User ID: RussellImplementationServicesGOF
Standard Chartered Bank
The Bank of New York Mellon
Toronto Dominion Bank
Password for METs Disclosures: ubsmets
Password for ISDA Documents: ubsisdadefinitions