SEC Floats Exception To Swap Data Repository Indemnity Rule
By Stewart Bishop (September 4, 2015, 9:11 PM EDT) -- The U.S. Securities and Exchange Commission proposed a new rule Friday for security-based swap data repositories that would implement the conditional requirement they make data available to regulators and that would provide an exemption to the Dodd-Frank Act's indemnification requirement.
The data-sharing rule for swap data repositories — electronic warehouses of sorts created by Dodd-Frank that serve as central facilities for swap data reporting and record-keeping — requires security-based swap repositories to make data available to agencies like the U.S. Department of Justice, the U.S. Commodity Futures Trading Commission and other regulators foreign and domestic.
However, a stumbling block for many...
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