SIFMA AMG Publishes "Derivatives Package" Template For Use When Onboarding Clients

SIFMA's Asset Management Group ("SIFMA AMG") published a template client document that asset managers can use to comply with new information and disclosure obligations required when onboarding clients for derivatives transactions.

The "Derivatives Package" includes a cover letter, a Derivatives Trading Client Questionnaire, a Derivatives Authorization, and a list of regulatory definitions used in the documents. Client completion and signing of the Derivatives Package provides asset managers with authority to set up an account for trading on the client's behalf, to make required representations, and to adhere to the relevant industry protocols without disruption of the management of the client's account.