Regulatory Alerts2012-05-07 | 2012-10918Swap Data Repositories: Interpretative Statement Regarding the Confidentiality and Indemnification Provisions of Section 21(d) of the Commodity Exchange Act
The Commodity Futures Trading Commission proposes an interpretative statement clarifying that the confidentiality and indemnification requirements of Section 21(d) of the Commodity Exchange Act should not inhibit foreign regulatory authorities from accessing swap data in which they have an independent regulatory interest. This guidance addresses concerns raised by international regulators and industry participants that strict indemnification obligations could hinder necessary cross-border information sharing for oversight purposes. The Commission seeks public comment on whether these provisions should be interpreted to allow direct data access by Appropriate Foreign Regulators without the standard indemnification agreements.
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