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H.R. 1847 — what changed

Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015

From Reported in House to Engrossed in House. 1 section amended and 1 removed between Reported in House and Engrossed in House.

Sec. 2 Repeal of indemnification requirements

(a)
Derivatives clearing organizations— Section 5b(k)(5) of the Commodity Exchange Act (7 U.S.C. 7a–1(k)(5)) is amended to read as follows:

“(5) Confidentiality agreement—Before the Commission may share information with any entity described in paragraph (4), the Commission shall receive a written agreement from each entity stating that the entity shall abide by the confidentiality requirements described in section 8 relating to the information on swap transactions that is provided.”

(b)
changed Swap data repositories— Section 21(d) 21 of the Commodity Exchange such Act (7 U.S.C. 24a(d)) 24a) is amended to read as follows:amended—
(1)
added in subsection (c)(7)—
(A)
added in the matter preceding subparagraph (A), by striking “all” and inserting “swap”; and
(B)
added in subparagraph (E)—
(i)
added in clause (ii), by striking “and” at the end; and
(ii)
added by adding at the end the following:

added “(iv) other foreign authorities; and”

(2)
added by striking subsection (d) and inserting the following:

“(d) Confidentiality agreement—Before the swap data repository may share information with any entity described in subsection (c)(7), the swap data repository shall receive a written agreement from each entity stating that the entity shall abide by the confidentiality requirements described in section 8 relating to the information on swap transactions that is provided.”

(c)
changed Security-Based swap data repositories— Section 13(n)(5)(H) 13(n)(5) of the Securities Exchange Act of 1934 25 (15 U.S.C. 78m(n)(5)(H)) 78m(n)(5)) is amended to read as follows:amended—
(1)
added in subparagraph (G)—
(A)
added in the matter preceding clause (i), by striking “all” and inserting “security-based swap”; and
(B)
added in subclause (v)—
(i)
added in subclause (II), by striking “; and” and inserting a semicolon;
(ii)
added in subclause (III), by striking the period at the end and inserting “; and”; and
(iii)
added by adding at the end the following:

added “(IV) other foreign authorities.”

(2)
added by striking subparagraph (H) and inserting the following:

“(H) Confidentiality agreement—Before the security-based swap data repository may share information with any entity described in subparagraph (G), the security-based swap data repository shall receive a written agreement from each entity stating that the entity shall abide by the confidentiality requirements described in section 24 relating to the information on security-based swap transactions that is provided.”

(d)
Effective date— The amendments made by this Act shall take effect as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111–203) on July 21, 2010.

Sec. 3 Security-based swap data repositories

removed

removed Section 13(n)(5)(G) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(n)(5)(G)) is amended by striking “all” and inserting “security-based swap”.