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Enron Mail |
Very good question - while you don't need to worry about otc swaps, otc
options might be a problem. However, if the customer is not a US entity, the advice is all given outside the US and does not relate to US futures or options, we feel reasonably comfortable that the risk is quite low that there would be a problem. Martin Rosell 06/24/99 10:08 AM To: Mark - ECT Legal Taylor/HOU/ECT@ECT cc: Subject: Re: Commodity Trading Advisor Thanks for the response. Does the term "futures contract" also include bilateral swaps (or it restricted to exchange-traded futures) and will it make any difference if the couterparty/customer is a non-US entity?! Martin ---------------------- Forwarded by Martin Rosell/OSL/ECT on 24/06/99 16:06 --------------------------- Mark - ECT Legal Taylor 24/06/99 16:53 To: Martin Rosell/OSL/ECT@ECT cc: Subject: Re: Commodity Trading Advisor I think the answers will be the same for Stockholm - i.e. as long as we are not giving advice with respect to futures contracts (valuations or trading advice) or handling customer funds there should not be any Commodity Exchange Act issues. Martin Rosell 06/14/99 09:08 AM To: Mark - ECT Legal Taylor/HOU/ECT@ECT cc: Subject: Commodity Trading Advisor Mark, the business people posted at ECTRIC's office in Stockholm want to offer a Swedish forestry group portfolio management services and advisory services. With reference to our previous conversations on the subject below, do you think that this may entail problems under US securities laws?! Martin ---------------------- Forwarded by Martin Rosell/OSL/ECT on 14/06/99 15:05 --------------------------- Martin Rosell 28/04/99 16:05 To: Mark - ECT Legal Taylor/HOU/ECT@ECT cc: Subject: Commodity Trading Advisor Mark: Did you have any luck with your New York law firm contact. The other party has accepted the contents of the contract and wish to sign on Tuesday next week, why it's a bit urgent to flag any US securities law implications associated with the relevant transaction. Martin
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