Alert December 28, 2010

CFTC OTC Derivatives Rulemaking – Swap Data Repositories

The CFTC issued a release proposing rules related to the registration and regulation of “Swap Data Repositories” as required by Section 728 of the Dodd-Frank Act.  The proposed rules include provisions related to (a) registering and maintaining the registration of a Swap Data Repository, (b) prescribing specific duties of a Swap Data Repository, (c) designating a Chief Compliance Officer, and (d) implementing the core principles that are applicable to a Swap Data Repository.  Comments on the proposals are due by February 22, 2011.