65182 Federal Register / Vol. 77, No. 207 / Thursday, October 25, 2012 / Notices 

indemnification provisions of the DoddFrank Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act). 

The confidentiality and indemnification 

provisions in the Dodd-Frank Act state that 

before a registered swap data repository 

(SDR) may share information with certain 

domestic and foreign regulators, those 

regulators must first agree in writing to abide 

by the confidentiality provisions of Section 8 

of the Commodity Exchange Act (CEA). In 

addition, the Dodd-Frank Act requires that 

regulators also must indemnify both the SDR 

and the Commodity Futures Trading 

Commission (Commission) for any expenses 

arising from litigation relating to the 

information provided under Section 8 of the 

CEA. 

The Commission recognizes the 

importance to foreign regulators of swap data 

reported under foreign regulatory regimes. 

The Commission’s final SDR rules specified 

that confidential swap data reported to and 

maintained by an SDR may be accessed by 

an ‘‘appropriate foreign regulator’’ without a 

confidentiality and indemnification 

agreement when the SDR is also registered 

with that foreign regulator. 

To provide further clarity for foreign 

regulators, the Commission is issuing this 

interpretative guidance on the Dodd-Frank 

Act confidentiality and indemnification 

provisions. The final interpretative guidance 

makes clear that a foreign regulator will not 

be prevented from accessing data in which it 

has an independent and sufficient regulatory 

authority over the SDR and such data has 

been reported pursuant to the foreign 

jurisdiction’s regulatory regime. 

With this interpretive guidance, the 

Commission has taken another important 

step to ensure appropriate access to SDRs by 

foreign regulatory authorities consistent with 

the provisions of the Dodd-Frank Act. 

Appendix 3—Statement of 

Commissioners Jill E. Sommers and 

Scott D. O’Malia 

We respectfully dissent from issuing this 

Final Interpretative Statement Regarding the 

Confidentiality and Indemnification 

Provisions of Section 21(d) of the Commodity 

Exchange Act (CEA) (Final Interpretative 

Statement). When the Commission issued the 

proposed guidance (Proposed Interpretative 

Statement) in May of this year, we were 

concerned that the statement did not actually 

solve the problem with the statutory language 

beyond providing some additional clarity to 

the Swap Data Repository (SDR) rules and we 

called for a permanent solution by way of a 

legislative repeal of the indemnification 

provisions. 

When finalizing the SDR rules, the 

Commission stated that a foreign regulator 

may have direct access to confidential swap 

data reported to and maintained by an SDR 

registered with the Commission without 

executing a Confidentiality and 

Indemnification Agreement when the SDR is 

also registered with the foreign regulator and 

the foreign regulator is acting in a regulatory 

capacity with respect to the SDR. See Swap 

Data Repositories: Registration Standards, 

Duties and Core Principles, 76 FR 54,538, 

54,554 (Sept. 1, 2011). The Final 

Interpretative Statement expands this to 

SDRs that are registered, recognized or 

otherwise authorized in a foreign regulator’s 

regulatory regime and clarifies that direct 

access to data should be granted even if the 

data the foreign regulator seeks also has been 

reported pursuant to the CEA and 

Commission regulations. 

The Commission received a comment from 

the European Securities and Markets 

Authority (ESMA) suggesting that we 

consider modifying the conditions that 

would need to be met so that a foreign 

regulator could escape being subject to the 

indemnification provisions. Specifically, 

ESMA suggested that the Commission 

consider the following alternative 

modifications: (1) delete the second 

condition of the Proposed Interpretative 

Statement, (i.e., ‘‘The data sought to be 

accessed by a foreign regulatory authority is 

reported to such registered SDR pursuant to 

the foreign regulatory regime’’), which would 

leave the sole condition that the SDR be 

registered, recognized or otherwise 

authorized in the foreign regulatory regime; 

or (2) add language to the second condition 

such that it would read as follows: ‘‘The data 

sought to be accessed by a foreign regulatory 

authority has been reported to such 

registered SDR pursuant to the foreign 

jurisdiction’s regulatory regime or the foreign 

regulatory authority is entitled to access such 

data pursuant to its regulatory regime to 

fulfill its respective responsibilities and 

mandates.’’ Although the Commission 

acknowledges the comment in the Final 

Interpretative Statement, we do not adopt 

either suggestion and do not justify their 

exclusion. 

Our second concern involves the 

distinction the Commission made in the SDR 

rules between an Appropriate Domestic 

Regulator and an Appropriate Domestic 

Regulator with Regulatory Responsibilities. 

Under the current rules only the CFTC and 

the SEC are able to directly access SDR data 

absent an indemnification agreement. All 

other U.S. Regulators (i.e. ‘‘Appropriate 

Domestic Regulators’’) would have to execute 

an indemnification agreement—something 

that we are told they are prohibited from 

doing. Adopting the second ESMA option 

and extending it to Appropriate Domestic 

Regulators would allow them direct access to 

data they believe is necessary to fulfill their 

regulatory mandate, and in our view is 

something that is within the Commission’s 

discretion. Instead, the Commission has 

purposely chosen to interpret the statute in 

a manner that constrains other domestic 

regulators’ ability to examine swap market 

data. For these reasons we cannot support the 

guidance issued today by the Commission. 

[FR Doc. 2012–26298 Filed 10–24–12; 8:45 am] 

BILLING CODE 6351–01–P 

CONSUMER PRODUCT SAFETY 

COMMISSION 

Sunshine Act Meeting Notice 

TIME AND DATE: Wednesday, October 31, 

2012, 10:00 a.m.–11:00 a.m. 

PLACE: Room 420, Bethesda Towers, 

4330 East West Highway, Bethesda, 

Maryland. 

STATUS: Commission Meeting—Open to 

the Public. 

MATTERS TO BE CONSIDERED: Briefing 

Matter: Safety Standard for Bedside 

Sleepers. 

A live webcast of the Meeting can be 

viewed at www.cpsc.gov/webcast 

For a recorded message containing the 

latest agenda information, call (301) 

504–7948. 

CONTACT PERSON FOR MORE INFORMATION: 

Todd A. Stevenson, Office of the 

Secretary, U.S. Consumer Product 

Safety Commission, 4330 East West 

Highway, Bethesda, MD 20814, (301) 

504–7923. 

Dated: October 23, 2012. 

Todd A. Stevenson, 

Secretary. 

[FR Doc. 2012–26369 Filed 10–23–12; 4:15 pm] 

BILLING CODE 6355–01–P 

CORPORATION FOR NATIONAL AND 

COMMUNITY SERVICE 

Proposed Information Collection; 

Comment Request 

AGENCY: Corporation for National and 

Community Service. 

ACTION: Notice. 

SUMMARY: The Corporation for National 

and Community Service (CNCS), as part 

of its continuing effort to reduce 

paperwork and respondent burden, 

conducts a pre-clearance consultation 

program to provide the general public 

and federal agencies with an 

opportunity to comment on proposed 

and/or continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 

(PRA95) (44 U.S.C. 3506(c)(2)(A)). This 

program helps to ensure that requested 

data can be provided in the desired 

format, reporting burden (time and 

financial resources) is minimized, 

collection instruments are clearly 

understood, and the impact of collection 

requirement on respondents can be 

properly assessed. 

Currently, CNCS is soliciting 

comments concerning its proposed 

revision of the National Service Trust 

Interest Payment Form to update the 

burden hour information. This form is 

used by AmeriCorps members to request 

interest payments on qualified loans 

based on their AmeriCorps service, by 

schools and lenders to verify their 

eligibility, and by both parties to satisfy 

certain legal requirements. 


erowe on DSK2VPTVN1PROD with 
Federal Register / Vol. 77, No. 207 / Thursday, October 25, 2012 / Notices 65183 

Copies of the information collection 

request can be obtained by contacting 

the office listed in the addresses section 

of this notice. 

DATES: Written comments must be 

submitted to the individual and office 

listed in the ADDRESSES section by 

December 24, 2012. 

ADDRESSES: You may submit comments, 

identified by the title of the information 

collection activity, by any of the 

following methods: 

(1) By mail sent to: Corporation for 

National and Community Service, Attn.: 

Bruce Kellogg, 3809C, 1201 New York 

Avenue NW., Washington, DC, 20525. 

(2) By hand delivery or by courier to 

the CNCS mailroom at Room 8100 at the 

mail address given in paragraph (1) 

above, between 9:00 a.m. and 4:00 p.m. 

Eastern Time, Monday through Friday, 

except Federal holidays. 

(3) By fax to: (202) 606–3492, Attn.: 

Bruce Kellogg. 

(4) Electronically through 

www.regulations.gov. Individuals who 

use a telecommunications device for the 

deaf (TTY–TDD) may call (800) 833– 

3722 between 8:00 a.m. and 8:00 p.m. 

Eastern Time, Monday through Friday. 

FOR FURTHER INFORMATION CONTACT: 

Bruce Kellogg, (202) 606–6954, or by 

email at bkellogg@cns.gov. 

SUPPLEMENTARY INFORMATION: CNCS is 

particularly interested in comments 

that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of CNCS, including whether 

the information will have practical 

utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 

are expected to respond, including the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology 

(e.g., permitting electronic submissions 

of responses). 

Background 

With this form AmeriCorps members 

request interest payments on qualified 

loans based on their AmeriCorps 

service, schools and lenders verify their 

eligibility, and both parties certify 

certain legal requirements. These 

procedures are increasingly performed 

online. 

Current Action 

CNCS seeks only to revise the burden 

hour information to reflect the increased 

electronic volume of this form. The 

information collection will otherwise be 

used in the same manner as the existing 

application. CNCS also seeks to 

continue using the current application 

until the revised application is 

approved by OMB. The current 

application is due to expire on October 

31, 2014. 

Type of Review: Renewal. 

Agency: Corporation for National and 

Community Service. 

Title: National Service Trust Interest 

Payment Form. 

OMB Number: 3045–0053. 

Agency Number: None. 

Affected Public: AmeriCorps 

members, school staff, and lenders. 

Total Respondents: 14,000. 

Frequency: One per loan per term. 

Average Time per Response: 10 

minutes. 

Estimated Total Burden Hours: 2,333 

hours. 

Total Burden Cost (capital/startup): 

None. 

Total Burden Cost (operating/ 

maintenance): None. 

Comments submitted in response to 

this notice will be summarized and/or 

included in the request for Office of 

Management and Budget approval of the 

information collection request; they will 

also become a matter of public record. 

Dated: October 18, 2012. 

Maggie Taylor-Coates, 

Chief Trust Operations. 

[FR Doc. 2012–26287 Filed 10–24–12; 8:45 am] 

BILLING CODE 6050–$$–P 

CORPORATION FOR NATIONAL AND 

COMMUNITY SERVICE 

Proposed Information Collection; 

Comment Request 

AGENCY: Corporation for National and 

Community Service. 

ACTION: Notice. 

SUMMARY: The Corporation for National 

and Community Service (CNCS), as part 

of its continuing effort to reduce 

paperwork and respondent burden, 

conducts a pre-clearance consultation 

program to provide the general public 

and federal agencies with an 

opportunity to comment on proposed 

and/or continuing collections of 

information in accordance with the 

Paperwork Reduction Act of 1995 

(PRA95) (44 U.S.C. 3506(c)(2)(A)). This 

program helps to ensure that requested 

data can be provided in the desired 

format, reporting burden (time and 

financial resources) is minimized, 

collection instruments are clearly 

understood, and the impact of collection 

requirement on respondents can be 

properly assessed. 

Currently, CNCS is soliciting 

comments concerning its proposed 

revision of the National Service Trust 

Voucher & Payment Request Form to 

update the burden hour information. 

This form is used by AmeriCorps 

members to request Segal Education 

Award payments, by schools and 

lenders to verify their eligibility, and by 

both parties to satisfy certain legal 

requirements. 

Copies of the information collection 

request can be obtained by contacting 

the office listed in the addresses section 

of this Notice. 

DATES: Written comments must be 

submitted to the individual and office 

listed in the ADDRESSES section by 

December 24, 2012. 

ADDRESSES: You may submit comments, 

identified by the title of the information 

collection activity, by any of the 

following methods: 

(1) By mail sent to: Corporation for 

National and Community Service, Attn.: 

Bruce Kellogg, 3809C, 1201 New York 

Avenue NW., Washington, DC, 20525. 

(2) By hand delivery or by courier to 

the CNCS mailroom at Room 8100 at the 

mail address given in paragraph (1) 

above, between 9:00 a.m. and 4:00 p.m. 

Eastern Time, Monday through Friday, 

except Federal holidays. 

(3) By fax to: (202) 606–3492, Attn.: 

Bruce Kellogg. 

(4) Electronically through 

www.regulations.gov. Individuals who 

use a telecommunications device for the 

deaf (TTY–TDD) may call (800) 833– 

3722 between 8:00 a.m. and 8:00 p.m. 

Eastern Time, Monday through Friday. 

FOR FURTHER INFORMATION CONTACT: 

Bruce Kellogg, (202) 606–6954, or by 

email at bkellogg@cns.gov. 

SUPPLEMENTARY INFORMATION: CNCS is 

particularly interested in comments 

that: 

• Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of CNCS, including whether 

the information will have practical 

utility; 

• Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

• Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

• Minimize the burden of the 

collection of information on those who 


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