AUGUST 27TH UPDATE: The CFTC has deferred the application of business conduct standards relating to swap documentation from mid-October to January 1, 2013. See our August 28th posting available here. To obtain your legal entity identifier, go to this website: www.ciciutility.org Who needs to obtain an LEI? In other words, why should I care about this? Every market participant that enters into over-the-counter (OTC) derivatives must have an LEI and, based upon current Dodd-Frank rulemaking from the CFTC, you need to have your LEI by mid-October. What else do I need to do by mid-October? If you have an ISDA Master Agreement in place with a party that is likely to register with the CFTC as a "swap dealer," then you also need to decide whether or not you want to continue to trade OTC derivatives under that ISDA. If you do, then you need to adhere to ISDA's Dodd-Frank Protocol by mid-October or, by that time, negotiate provisions on a bi-lateral basis that address the types of issues addressed by the Protocol. Under the protocol, all market participants will be giving representations and should become familiar with these representations - and taking any internal actions necessary that may be needed to give the representations. If you are an investment manager, then you will be giving representations to the swap dealers with which your clients have ISDAs in place - even if the client is the principal to the ISDA and executes the document as such. Therefore, you should familiarize yourself with these representations and take any additional steps that may be needed to give the representations. To learn more about ISDA's Dodd-Frank Protocol, go to this website: http://www2.isda.org/functional-areas/protocol-management/protocol/8 Good day. Good luck. TSR   AUGUST 27TH UPDATE: The CFTC has deferred the application of business conduct standards relating to swap documentation from mid-October to January 1, 2013. See our August 28th posting available here.