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Tuesday, May 1, 2012

CFTC Votes to Clarify Indemnification and Confidentiality Provisions

The CFTC today voted to issue a Proposed Interpretative Statement regarding the confidentiality and indemnification provisions in the Dodd-Frank Act. The proposal generally exempts foreign regulators from the indemnification and confidentiality provision in the Dodd-Frank Act, and ensures that foreign regulators have access to data in Swap Data Repositories (SDR). This exemption only applies to data that is required to be reported.

The proposal passed the Commission by a vote of 5-0.

The CFTC will request comments on the proposed interpretative statement in the Federal Register. In particular, the CFTC requests comment addressing whether and how the timing and implementation of foreign jurisdictions’ regulatory regimes affect the CFTC’s proposed statement.

Comments will be due 30 days from the date of publication in the Federal Register.

Read the CFTC's press release.

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