ent strategy of the Fund. Regulation in the Derivatives Industry The Dodd-Frank Act has had a significant impact on the derivatives industry. The Dodd-Frank Act divides the regulatory responsibility for derivatives in the United States between the SEC and the CFTC, a distinction that does not exist in any ot

ons may have a detrimental effect on one or more investors. II-44 CONFIDENTIAL UBSTERRAMAR00004047 EFTA00239379 FOR EXISTING INVESTOR USE ONLY Dodd-Frank Act The U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") was enacted in July 2010. The Dodd-Frank Act has resulted

utstanding bctµeen Client and DB, Client agrees to promptly provide DB any Information reasonably requested by DB necessaiy for compliance with the Dodd-Frank Act or any other applicable law or regulation 15.4 If the European Commission adopts an implementing act in respect of the United States of America pu

utstanding between Client and DB, Client agrees to promptly provide DB any information reasonably requested by DB necessary for compliance with the Dodd-Frank Act or any other applicable law or regulation. 15. RECORDING OF CONVERSATIONS. Client consents to the recording by DB and its affiliates of telephone

ve dealers with which the Master Fund may execute the majority of its OTC derivatives will not be able to rely on the end-user exemptions under the Dodd-Frank Act and therefore such dealers will be subject to clearing and margin requirements notwithstanding whether the Master Fund is subject to such requiremen

ng relationship docuinentation, and that the FDIC may hove certain rights to transfer swaps of the covered party under sectiortr 2I0(eX9)(A) of the:Dodd-Frank Act, 12 U.S.C. 5390(cX9XA), or t2 U.S.C. 1821(e)(9XA). 10.5 Each party agrees to giVe notice to the other party if it becomes, or creases to be, a fin

d a plan to strip references to ratings from rules that govern securities offerings, the first of several such moves the S.E.C. must make under the Dodd-Frank Act. The commission is also supposed to create its own Office of Credit Ratings to police the agencies, although the S.E.C. has delayed that move becaus

certify to J.P. Morgan that it is not considered a Special Entity for purposes of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Me 'Dodd-Frank Act). Prior to making this Certification, the Client should perform appropriate due diligence and, if necessary, consult with legal counsel, in regards

ve dealers with which the Master Fund may execute the majority of its OTC derivatives will not be able to rely on the end-user exemptions under the Dodd-Frank Act and therefore such dealers will be subject to clearing and margin requirements notwithstanding whether the Master Fund is subject to such requiremen

s the Dodd-Frank Act and the Volcker Rule pose for Deutsche Bank. the Fund, Deutsche Asset 8 Wealth Management and the investors. The full impact of Dodd-Frank Act will not be ascertainable until Volcker Final Rules are published. Moreover, the Volcker Final Rules may impose unforeseen burdens on. and may result

d Trade Repositories (known as the European Market Infrastructure Regulation or "EMIR") and similar regulations globally. In the United States, the Dodd-Frank Act divides the regulatory responsibility for derivatives between the SEC and the U.S. Commodity Futures Trading Commission (the "CFTC"), a distinction