H.R.1847 - Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Crawford, Eric A. "Rick" [R-AR-1] (Introduced 04/16/2015)|
|Committees:||House - Agriculture; Financial Services | Senate - Agriculture, Nutrition, and Forestry|
|Committee Reports:||H. Rept. 114-202|
|Latest Action:||Senate - 07/15/2015 Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.1847 — 114th Congress (2015-2016)All Information (Except Text)
Passed House amended (07/14/2015)
Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015
Amends the Commodity Exchange Act, with respect to derivatives clearing organizations and swap data repositories, to repeal the prerequisite that, before the Commodity Futures Trading Commission (CFTC) may share information with specified regulatory agencies, such agencies must agree to indemnify the CFTC for expenses arising from litigation relating to information so provided.
Amends the Securities Exchange Act of 1934 to repeal similarly the prerequisite that, before a security-based swap data repository may share information with specified regulatory entities, such entities must agree to indemnify both such repository and the Securities and Exchange Commission (SEC) for expenses arising from litigation relating to information so provided.
Amends both the CEA and the SEA to require a swap or security-based swap data repository, on a confidential basis and after notification to the CFTC or the SEC, as appropriate, to make only swap or security-based swap data (currently, all data) it has obtained available to specified regulatory authorities, including other foreign authorities in addition to foreign financial supervisors, foreign central banks, and foreign ministries.
Makes these amendments effective as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.