CFTC Issues Interpretive Statement Regarding Foreign Regulators and Swap Data Repositories

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[authors: Kenneth M. Rosenzweig, Ross Pazzol and Blake J. Brockway]

The Commodity Futures Trading Commission issued a final interpretive statement to provide guidance to foreign regulators and swap data repositories (SDRs) regarding the confidentiality and indemnification provisions of Section 21(d) of the Commodity Exchange Act (CEA).

Under the interpretive statement, the confidentiality and indemnification provisions do not apply to data reported to a registered SDR that is also registered with or authorized by a foreign regulator with respect to data that has been reported to the SDR under foreign law. The CFTC further indicated that a foreign regulatory authority may obtain confidential data, without execution of a indemnification agreement, pursuant to the provisions of Section 8(e) of the CEA.

The interpretive statement is available here.

 

Topics:  CEA, CFTC, Indemnification, Interpretive Letters, Swap Data Repositories

Published In: Administrative Agency Updates, Finance & Banking Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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