Controls over Swaps 2025

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The document is an audit report by the New York State Comptroller's Office focusing on the internal controls over employee time and attendance practices, payroll changes, and other payroll activities at Green Haven Correctional Facility. It identifies significant weaknesses in these controls, particularly regarding shift swaps among correction officers, documentation of attendance, recovery of overpayments, and management of undelivered paychecks. The report includes 15 recommendations for improving these controls, which officials from the Department of Correctional Services generally agree to implement.

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Click ‘Get Form’ to open the Controls over Swaps document in the editor.
Begin by reviewing the audit objective section, which outlines the purpose of the form. This will help you understand what information is required.
Fill in your name and employee details in the designated fields to ensure proper identification for the swap process.
Complete the swap request section by specifying the dates of both the initial swap and payback swap. Ensure that both employees involved sign this section.
Submit the completed form for approval at least 48 hours before the intended swap date, as per DOCS Directive 2223.
Once approved, make sure to annotate your time card accordingly on the days of both swaps to confirm that they took place.

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Does the CFTC have jurisdiction over commodity swaps?

Here are some examples: In the U.S., the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) divide responsibilities depending on the TRS type and the underlying assets. The CFTC regulates TRS based on security indexes, commodities, and currencies.

Who regulates swaps?

As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFTC has written rules to regulate the swaps marketplace.

How to explain swaps?

A swap is an agreement between two parties to exchange cash flows for a set period of time. At the time the contract is initiated, the value of at least one of the assets being swapped is determined by a fluctuating or uncertain variable, such as an interest rate or a commodity price.

Who regulates total return swaps?

Similarly, if a TRS also is based on non-security-based components (such as the price of oil, or a currency), it would be a mixed swap. Under the Dodd-Frank Act, a TRS based on a broad-based security index would be a swap regulated by the CFTC.

Who regulates commodity swaps?

The U.S. Commodity Futures Trading Commission (CFTC) intensively regulates commodity futures, options, and swaps pursuant to the provisions of the Commodity Exchange Act of 1936. The Securities and Exchange Commission (SEC) and federal banking agencies also have some jurisdiction over derivative financial instruments.

How are swaps regulated?

Swap Execution Facilities (SEFs) are trading facilities that operate under the regulatory oversight of the CFTC, pursuant to Section 5h of the Commodity Exchange Act (the Act), 7 U.S.C. 7b-3.

Controls over Swaps 2025

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